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2301 West Flagler Street

Jose E. Garcia Purchases Retail Property From Lydia C. Sotelo De Valcare For $2.05M
SOLDRetail

Jose E. Garcia Purchases Retail Property From Lydia C. Sotelo De Valcare For $2.05M

2301 West Flagler Street

$2,050,000

$262/SF

Building Size

7,799 SF

Asset Type

Retail

Closing

Jul 28, 2024

AI

The property involved in this transaction is located at 2301 West Flagler Street, Miami. This retail asset has a total square footage of 7,799, with a price per square foot of $262. The transaction was finalized for a total sale price of $2,050,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,050,000
  • Address: 2301 West Flagler Street
  • Market: Miami
  • Total Square Footage: 7,799
  • Price per Square Foot: $262
  • Buyer: Jose E. Garcia
  • Seller: Lydia C. Sotelo De Valcare, Francisco Valcare, Cesar Valcare & Roberto Valcare
  • Buyer's Representative: Yalian Serrano
  • Seller's Representatives: Jonathan De La Rosa & Hugo Cardona - Marcus & Millichap

This transaction involved multiple parties, with Jonathan De La Rosa and Hugo Cardona representing the seller through Marcus & Millichap. The buyer, Jose E. Garcia, was represented by Yalian Serrano, facilitating the successful completion of the sale.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$672.6M

vol

148 deals

Broker

Miami 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

7.74%

Cash-on-Cash

-2.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93