Clara M. Almarall & Teresita D. Cifiuentes Acquire Retail Asset In Miami Springs
SOLD
$1,700,000
Florida
See Similar DealsRetail6,250 SF
Sold 06/24/2024
SOLD
Clara M. Almarall & Teresita D. Cifiuentes Acquire Retail Asset In Miami Springs
181 Westward Drive
See Similar DealsRetail6,250 SF
Sold 06/24/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$272
Total Square Footage:6,250 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,039.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058.87
Annual Debt Service$96,706.41
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