James Star Acquires Retail Property In Miami From Paolo Cornetto For $4.85M
174 Northeast 24th Street, Miami, Florida 33137, United States
$4,850,000
$721/SF
Building Size
6,724 SF
Asset Type
Retail
Closing
Apr 20, 2022
About this deal
AI
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.
On the Map
$4,850,000
$721/SF
Retail
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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
3.27%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93