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

Property Image
SOLD
$2,300,000
Juan Andres Nava
Andy Charry
+ 2

Florida

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Retail12,210 SF
Sold 02/29/2024
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Property Image
SOLD

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

1850 Northeast 164th Street

See Similar Deals
Retail12,210 SF
Sold 02/29/2024
Juan Andres Nava
Andy Charry
+ 2
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$188
Total Square Footage:12,210 SF
Transaction Type:Sale

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
10 deals$53.5M volume(305) 298-5503
BROKER

Juan Andres Nava
Metro 1 Commercial
35 deals$193.4M volume
BROKER

Josh Rosa
Metro 1 Commercial
7 deals$13.7M volume
BROKER

Blake Groll
Metro 1 Commercial
1 deal$2.3M volume(305) 725-6235
BROKER

Sarah Groll
Metro 1 Commercial
1 deal$2.3M volume(305) 849-9690
BROKER

Details

SOLD
IMAGE: Andy Charry, Blake Groll, Juan Andres Nava, Sarah Groll & Josh Rosa DATE: 02/29/2024 ADDRESS: 1850 Northeast 164th Street MARKET: North Miami Beach ASSET TYPE: Retail BUYER: Larry Groll SELLER: Moshe Minz BROKERS: Juan Andres Nava (@JuanAndresNavaCRE), Josh Rosa (@JoshRosa.CRE), Blake Groll, Sarah Groll & Andy Charry - Metro 1 Commercial (@Metro1CRE) SALE PRICE: $2,300,000 SF: 12,210 ~ PPSF: $188

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$122,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08