Gary Krat Acquires Retail Property In Allapattah For $1.1M
2601 Northwest 7th Avenue, Miami, FL 33127
$1,100,000
$402/SF
Building Size
2,733 SF
Asset Type
Retail
Closing
Nov 28, 2021
AI
In a recent closed transaction in Allapattah, a retail property located at 2601, 2611 & 2625 NW 7th Ave was sold for a price of $1,100,000. The property spans a total area of 2,733 square feet, resulting in a price per square foot of $402.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,100,000
- Square Footage: 2,733
- Address: 2601, 2611 & 2625 NW 7th Ave
- Market: Allapattah
The buyer of the property was Gary Krat, while the seller was Alfredo Borges. Carlos Fausto Miranda from Fausto Commercial represented the buyer, and Jonathan Eismann from Gridline Properties represented the seller in this transaction.
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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93