James Star Acquires Retail Property In Miami From Paolo Cornetto For $4.85M
SOLD
$4,850,000
Florida
See Similar DealsRetail6,724 SF
Sold 04/21/2022
SOLD
James Star Acquires Retail Property In Miami From Paolo Cornetto For $4.85M
174 Northeast 24th Street, Miami, Florida 33137, United States
See Similar DealsRetail6,724 SF
Sold 04/21/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$721
Total Square Footage:6,724 SF
Transaction Type:Sale
The property involved in this transaction is a retail space located at 174 Ne 24th St in Miami, FL. The property spans 6,724 square feet and was sold on April 21, 2022. The buyer, James Star, purchased the property from the seller, Paolo Cornetto, for a total price of $4,850,000. The price per square foot for this transaction was $721.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,850,000
- Address: 174 Ne 24th St, Miami, FL
- Square Footage: 6,724
- Buyer: James Star
- Seller: Paolo Cornetto
In this transaction, James Star acted as the buyer, and Paolo Cornetto acted as the seller. Both parties were represented by their respective agents.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$258,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,231.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,991.47
Annual Debt Service$275,897.69
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