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

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SOLD
$5,575,000

Florida

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Retail6,000 SF
Sold 06/14/2022
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Property Image
SOLD

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

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

See Similar Deals
Retail6,000 SF
Sold 06/14/2022
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$929
Total Square Footage:6,000 SF
Transaction Type:Sale

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.

Players

Josh Augenbaum
139 deals$652.8M volume(917) 417-7834
BROKER


4 deals$26.2M volume
BUYER

East End Capital
SELLER

Details

SOLD
IMAGE: Chaim Cahane, Josh Augenbaum & Dov Tepper DATE: 06/14/2022 ADDRESS: 2312 N Miami Ave MARKET: Wynwood ASSET TYPE: Retail BUYER: Forte Capital Management (@ForteCapital) - Chaim Cahane & Dov Tepper SELLER: East End Capital BROKER: Josh Augenbaum - Augenbaum Realty Corp (@AugenbaumRealty) SALE PRICE: $5,575,000 SF: 6,000 ~ PPSF: $929

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$297,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,806.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,428.34
Annual Debt Service$317,140.13