Clara M. Almarall & Teresita D. Cifiuentes Acquire Retail Asset In Miami Springs
181 Westward Drive
$1,700,000
$272/SF
Building Size
6,250 SF
Asset Type
Retail
Closing
Jun 24, 2024
AI
The retail property located at 181 Westward Drive in Miami Springs was sold for $1,700,000. The property spans 6,250 square feet, resulting in a price per square foot of $272. The transaction took place on 06/24/2024, with Clara M. Almarall & Teresita D. Cifiuentes acquiring the asset from Philip R. Lozma.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,700,000
- Buyer: Clara M. Almarall & Teresita D. Cifiuentes
- Seller: Philip R. Lozma
- Seller's Representative: Jonathan De La Rosa & Hugo Cardona - Marcus & Millichap
- Market: Miami Springs
- Address: 181 Westward Drive
Hugo Cardona and Jonathan De La Rosa from Marcus & Millichap represented the seller, Philip R. Lozma, in the transaction, showcasing their expertise in facilitating the sale of the retail property in Miami Springs.
Players
Miami Springs 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
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93