City Of Sunny Isles Beach Acquires Retail Property On Collins Ave. For $15.8M
18500 Collins Avenue, Sunny Isles Beach, Florida 33160, United States
$15,830,000
$1,739/SF
Building Size
9,102 SF
Asset Type
Retail
Closing
Mar 3, 2022
About this deal
AI
The city of Sunny Isles Beach, Fla has acquired a retail property located at 18500 Collins Ave. in Sunny Isles Beach. The property was sold by MMG Equity Partners, represented by Gabriel Navarro. The sale took place on 03/04/2022 for a total price of $15,830,000. The retail asset spans 9,102 square feet, resulting in a price per square foot of $1,739.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,830,000
- Square Footage: 9,102
- Address: 18500 Collins Ave.
- Market: Sunny Isles Beach
Gabriel Navarro, representing MMG Equity Partners, facilitated the sale of the retail property to the city of Sunny Isles Beach in Florida.
On the Map
$15,830,000
$1,739/SF
Retail
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Sunny Isles 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
1.00%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93