Joel & Michelle Rodriquez Acquire Retail Property In North Miami Beach For $16M
1785 Northeast 163rd Street, North Miami Beach, Florida 33162, United States
$16,000,000
$442/SF
Building Size
36,189 SF
Asset Type
Retail
Closing
Jun 8, 2022
About this deal
AI
A retail property located at 1705, 1747, 01765 & 1785 NE 163rd St in North Miami Beach has been sold. The property spans a total area of 36,189 square feet and was sold for a price of $16,000,000. This results in a price per square foot of $442.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,000,000
- Property Address: 1705, 1747, 01765 & 1785 NE 163rd St, North Miami Beach
- Market: North Miami Beach
- Square Footage: 36,189
The buyer of the property is Joel & Michelle Rodriquez, while the seller is Brittany Kaplan.
Players
North Miami Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93