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
About this deal
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