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
About this deal
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.
On the Map
$1,700,000
$272/SF
Retail
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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