Claude Cohen Of Magnum Property Acquires Retail Asset In Miami From Bristlecone Holdings For $5M
SOLD
$5,000,000
Florida
See Similar DealsRetail13,500 SF
Sold 12/06/2024
SOLD
Claude Cohen Of Magnum Property Acquires Retail Asset In Miami From Bristlecone Holdings For $5M
201 North Miami Avenue
See Similar DealsRetail13,500 SF
Sold 12/06/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$370
Total Square Footage:13,500 SF
Transaction Type:Sale
The retail property located at 201 North Miami Avenue in Miami features a total square footage of 13,500. This asset was sold for a transaction amount of $5,000,000, which translates to a price per square foot of $370.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,000,000
- Address: 201 North Miami Avenue
- Market: Miami
- Square Footage: 13,500
- Price per Square Foot: $370
- Buyer: Claude Cohen - Magnum Property
- Seller: Mark Morkos - Bristlecone Holdings
- Seller's Representative: Mika Mattingly & Cecilia Estevez - Colliers
Claude Cohen represents Magnum Property as the buyer in this transaction, while Mark Morkos is involved as the seller representing Bristlecone Holdings. The seller is represented in the negotiation by brokers Mika Mattingly and Cecilia Estevez from Colliers.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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