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
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.
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