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2310 Palm Ave Hialeah, FL 3...

Crossways Hotel Inc Acquires Retail Property On Palm Avenue In Hialeah For $2.075M
SOLDRetail

Crossways Hotel Inc Acquires Retail Property On Palm Avenue In Hialeah For $2.075M

2310 Palm Ave Hialeah, FL 33010, USA

$2,075,000

$615/SF

Building Size

3,370 SF

Asset Type

Retail

Closing

Jul 5, 2023

AI

A retail property located at 2310 Palm Avenue in Hialeah has been sold for a total of $2,075,000. The property spans 3,370 square feet, resulting in a price per square foot of $616. The transaction took place on 07/05/2023.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,075,000
  • Address: 2310 Palm Avenue, Hialeah
  • Market: Hialeah
  • Square Footage: 3,370
  • Price Per Square Foot: $616

The buyer of the property is Crossways Hotel Inc, represented by Alfredo Valdes. The seller of the property is Rafael Leon. Chris Cleveland from Remax served as the buyer's representative, while David Gonzalez from The Keyes Company represented the seller.

Players

Chris Cleveland

Re/Max

Broker

$6.3M

vol

2 deals

Broker

Alfredo Valdes

Buyer

$13.4M

vol

2 deals

Buyer

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

7.64%

Cash-on-Cash

-2.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93