Terra Group Sells Retail Property In Miami's South Bayshore Drive For $6M
2831 South Bayshore Drive, Miami, FL 33133, USA
$6,000,000
$600/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Nov 5, 2021
About this deal
AI
Located at 2831 South Bayshore Dr in Miami, this retail property was recently sold in a transaction facilitated by Fabio Faerman and Sebastian Faerman of FA Commercial Fortune International. The property, measuring approximately 10,000 square feet, was sold by Terra Group.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,000,000
- Asking Price: $8,500,000
- Price per square foot: $600
This deal showcases the expertise of Fabio Faerman and Sebastian Faerman as they successfully represented the buyer and seller in the transaction. With their extensive knowledge of the Miami market, they were able to negotiate a sale price of $6,000,000, which was $2,500,000 below the initial asking price. This transaction highlights their ability to navigate the retail sector and achieve favorable outcomes for their clients.
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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93