Texas Property Group Acquires Retail Property In North Miami Beach For $1.34M
SOLD
$1,340,000
Florida
See Similar DealsRetail3,397 SF
Sold 12/15/2021
SOLD
Texas Property Group Acquires Retail Property In North Miami Beach For $1.34M
1870 Northeast 163rd Street, North Miami Beach, FL 33162
See Similar DealsRetail3,397 SF
Sold 12/15/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$394
Total Square Footage:3,397 SF
Transaction Type:Sale
An 8,184 square foot retail property located at 1870 NE 163rd Street in North Miami Beach has been sold for $1,340,000. The property was sold on 12/15/2021, and has a total of 3,397 square feet of space. The price per square foot for the property is $394, and the price per lot square foot is $164.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,340,000
- Address: 1870 NE 163rd Street, North Miami Beach
- Square Footage: 3,397
- Price per Square Foot: $394
- Lot Square Footage: 8,184
- Price per Lot Square Foot: $164
The buyer of the property is Texas Property Group, represented by Manny Farhamian. The seller of the property is Stephen Lee. The deal was facilitated by brokers Jamie Rose Maniscalco and Alyssa Armstrong from Apex Capital Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$71,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,760.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,352.28
Annual Debt Service$76,227.40
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