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
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