Stefano Carniato Purchases Retail Property From Lucas Donantueno In Miami For $3.6M

The retail property located at 230 Northwest 71st Street in Miami was sold for $3,600,000. This asset encompasses a total square footage of 7,084 and was transacted at a price per square foot of $508. The property sits on a 12,300 square foot lot and currently accommodates a diverse mix of creative flex tenants, ranging from approximately 300 to 2,200 square feet. In-place net rents average around $43 per square foot on a triple net basis, with potential for upward adjustment as market conditions evolve.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,600,000
• Square Footage: 7,084
• Price per Square Foot: $508
• Address: 230 Northwest 71st Street
• Market: Miami
• Buyer: Stefano Carniato
• Seller: Lucas Donantueno
• Brokers: Juan Andres Nava, Bernardita Banfi, Djinji Brown & Daniella Sutnick - Metro 1 Commercial

The transaction was facilitated by a team of brokers from Metro 1 Commercial, which has established a strong track record in the Little River area, completing four of the seven sales above $500 PSF in the last 18 months. The surrounding area is experiencing revitalization, with significant projects from AJ Capital, enhancing the value of this property through increased demand and rental growth.