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1850 Northeast 164th Street

Larry Groll Purchases Retail Property In North Miami Beach For $2.3M
SOLDRetail

Larry Groll Purchases Retail Property In North Miami Beach For $2.3M

1850 Northeast 164th Street

$2,300,000

$188/SF

Building Size

12,210 SF

Asset Type

Retail

Closing

Feb 29, 2024

AI

The retail property located at 1850 Northeast 164th Street in North Miami Beach has been sold in a recent transaction. The property spans 12,210 square feet and was sold for $2,300,000, equating to a price per square foot of $188. The deal involved Larry Groll as the buyer and Moshe Minz as the seller.

Summary of transaction details:

The transaction was facilitated by a team of brokers from Metro 1 Commercial, including Juan Andres Nava, Josh Rosa, Blake Groll, Sarah Groll, and Andy Charry. This collaborative effort led to the successful sale of the retail property, showcasing the expertise and dedication of the involved parties.

Players

Andy Charry

STL Commercial

Broker

$53.5M

vol

10 deals

Broker

North Miami Beach 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

6.90%

Cash-on-Cash

-1.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93