MMG Equity Partners Acquires Homestead Shopping Center For $7.1M
SOLD
$7,100,000
Florida
See Similar DealsRetail51,246 SF
Sold 01/15/2020
SOLD
MMG Equity Partners Acquires Homestead Shopping Center For $7.1M
27000 S Dixie Hwy, Homestead, FL, USA
See Similar DealsRetail51,246 SF
Sold 01/15/2020
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$138
Total Square Footage:51,246 SF
Transaction Type:Sale
A shopping center located at 27000 South Dixie Highway in Homestead has been sold for $7,100,000. The property spans an area of 51,246 square feet with a price per square foot of $139. The sale was completed on January 15, 2020, with MMG Equity Partners, represented by Marcos Puente and Gabriel Navarro, acquiring the property from D&G Properties.
Summary of transaction details
- Property Type: Shopping center
- Transaction Amount: $7,100,000
- Address: 27000 South Dixie Highway, Homestead
- Market: Homestead
- Buyer: MMG Equity Partners - Marcos Puente, Gabriel Navarro
- Seller: D&G Properties
- Square Footage: 51,246
- Price per Square Foot: $139
MMG Equity Partners, represented by Marcos Puente and Gabriel Navarro, successfully acquired the shopping center located at 27000 South Dixie Highway in Homestead from D&G Properties. The deal was closed on January 15, 2020, for a total price of $7,100,000. This transaction marks another successful investment for MMG Equity Partners in the Homestead market.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$378,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,224.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,657.62
Annual Debt Service$403,891.47
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