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279 Northeast 79th Street, ...

AIDS Health Foundation Acquires Land In Miami For $6M
SOLDRetail

AIDS Health Foundation Acquires Land In Miami For $6M

279 Northeast 79th Street, Miami, Florida 33138, United States

$6,000,000

$475/SF

Building Size

12,623 SF

Asset Type

Retail

Closing

Apr 24, 2022

AI

The property at 279 NE 79th Street in Miami has been sold in a recent transaction. The asset is a land property, spanning approximately 44,000 square feet. The sale price for this property was $6,000,000, resulting in a price per square foot of $136.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $6,000,000
  • Address: 279 NE 79th Street, Miami
  • Market: Miami

The buyer in this transaction was the AIDS Health Foundation, while Leocavlaundry LLC acted as the seller. The deal was facilitated by the broker representatives from Marcus & Millichap, including Ryan T. Shaw, Jose Fernandez, Quinn Sousa, and Shelly Argy.

Players

Ryan Shaw

Marcus & Millichap

Broker

$145.7M

vol

22 deals

Broker

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

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93