Wells Acquisition LLC Acquires Homestead Pavilion Retail For $23.8M
2301 NE 8th St, Homestead, Florida 33033, United States
$23,800,000
$303/SF
Building Size
78,436 SF
Asset Type
Retail
Closing
Aug 10, 2022
About this deal
AI
The Homestead Pavilion retail property located at 2551 NE 8th Street and 2301 NE 8th Street in Homestead, with a total land area of 8.6 acres, was recently sold for a transaction amount of $23,800,000. The property offers a total square footage of 78,436, resulting in a price per square foot of $303. The transaction took place on August 11, 2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $23,800,000
- Address: 2551 NE 8th Street & 2301 NE 8th Street
- Market: Homestead
- Land Area: 8.6 acres
Wells Acquisition LLC acquired the Homestead Pavilion property from Homestead Pavilion LLC. The deal was facilitated by brokers Patrick Nutt and William Wamble from the National Net Lease Group, representing SRS Real Estate Partners.
Players
Homestead 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
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93