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2601 Northwest 7th Avenue, ...

Gary Krat Acquires Retail Property In Allapattah For $1.1M
SOLDRetail

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

Carlos Fausto Miranda

Fausto Commercial Realty Consultants

Broker

$239.3M

vol

54 deals

Broker

Gary Krat

Buyer

$115.5M

vol

4 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

14.42%

Cash-on-Cash

-4.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93