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2312 North Miami Avenue, Mi...

Updated Oct 28, 2024

Forte Capital Management Acquires Retail Property In Wynwood For $5.6M
SOLDRetail

Forte Capital Management Acquires Retail Property In Wynwood For $5.6M

2312 North Miami Avenue, Miami, Florida 33127, United States

$5,575,000

$929/SF

Building Size

6,000 SF

Asset Type

Retail

Closing

Jun 13, 2022

About this deal

AI

An upscale retail property located at 2312 N Miami Ave in Wynwood has been sold in a recent transaction for $5,575,000. The property spans 6,000 square feet and was sold at a price per square foot of $929. The sale was facilitated by broker Josh Augenbaum of Augenbaum Realty Corp.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $5,575,000
  • Address: 2312 N Miami Ave
  • Market: Wynwood
  • Square Footage: 6,000
  • Price per Square Foot: $929

The buyer, Forte Capital Management represented by Chaim Cahane and Dov Tepper, acquired the property from the seller, East End Capital. This transaction highlights the strong interest in retail assets within the Wynwood market. Chaim Cahane & Dov Tepper were the key individuals behind the deal, with Forte Capital Management leading the purchase. East End Capital, on the other hand, acted as the seller. The successful completion of this transaction demonstrates the expertise of broker Josh Augenbaum from Augenbaum Realty Corp in facilitating deals within the retail sector.

On the Map

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$5,575,000

$929/SF

Retail

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Players

Josh Augenbaum

Augenbaum Realty

Broker

$662.2M

vol

152 deals

Broker

Chaim Cahane

Forte Capital Management

Buyer

$52.4M

vol

9 deals

Buyer
East End Capital
East End CapitalSeller
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Miami Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $929 per square foot on a published $5.6M for 6,000 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.85%

Cash-on-Cash

-0.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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