AutoNation Sells Palmetto Bay Retail Property To HGreg For $75M
Palmetto Bay Collision, South Dixie Highway, Palmetto Bay, FL, USA
$75,000,000
$1,049/SF
Building Size
71,500 SF
Asset Type
Retail
Closing
Nov 25, 2019
AI
AutoNation has sold a retail property in Palmetto Bay, located at 17305 South Dixie Highway. The property, with a total square footage of 71,500, was purchased by HGreg from John Hairabedian. The transaction closed on November 26, 2019, with a sale price of $75,000,000, resulting in a price per square foot of $1,048.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $75,000,000
- Square Footage: 71,500
- Buyer: HGreg
- Seller: AutoNation
- Date: November 26, 2019
- Market: Palmetto Bay
- Address: 17305 South Dixie Highway
John Hairabedian represented HGreg in this deal.
Players
Miami 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93