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Young Koo Kim Acquires Little Havana Retail Property For $3.7M

Property Image
SOLD
$3,700,000
Alexandros (Alex) Tsoulfas

Florida

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Retail12,430 SF
Sold 06/13/2022
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Property Image
SOLD

Young Koo Kim Acquires Little Havana Retail Property For $3.7M

2955 Southwest 8th Street, Miami, Florida 33135, United States

See Similar Deals
Retail12,430 SF
Sold 06/13/2022
Alexandros (Alex) Tsoulfas
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$297
Total Square Footage:12,430 SF
Transaction Type:Sale

The retail property located at 2955 SW 8th St in Little Havana has been sold. The transaction took place on 06/13/2022, and the property was purchased for a price of $3,700,000. The retail space spans a total area of 12,430 square feet, resulting in a price per square foot of $298. The lot size is 13,500 square feet, equating to a price per lot square foot of $274.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $3,700,000
  • Address: 2955 SW 8th St
  • Market: Little Havana
  • Buyer: Young Koo Kim - Y & K Enterprises
  • Seller: Brenda Bruni - Gamla Cedron LH
  • Buyer's Rep: Alex K. Tsoulfas & Juliette Gruener - APEX Capital Realty
  • Seller's Rep: Gabriel Reategui - Reategui Real Estate & Investments

Alex K. Tsoulfas and Juliette Gruener from APEX Capital Realty represented the buyer, Young Koo Kim, and facilitated the purchase. On the other hand, Gabriel Reategui from Reategui Real Estate & Investments served as the seller's representative in this transaction.

Players

2 deals$7.9M volume
BROKER

Juliette Gruener
2 deals$8M volume
BROKER

Alexandros (Alex) Tsoulfas
 STL Commercial
28 deals$141.6M volume(305) 972-7217
BROKER

APEX Capital Realty
BROKERAGE

Details

SOLD
IMAGE: Alex K. Tsoulfas & Juliette Gruener DATE: 06/13/2022 ADDRESS: 2955 SW 8th St MARKET: Little Havana ASSET TYPE: Retail BUYER: Young Koo Kim - Y & K Enterprises SELLER: Brenda Bruni - Gamla Cedron LH BUYER'S REP: Alex K. Tsoulfas (@AlexTsoulfas) & Juliette Gruener - APEX Capital Realty (@ApexCapitalRealty) SELLER'S REP: Gabriel Reategui - Reategui Real Estate & Investments SALE PRICE: $3,700,000 SF: 12,430 ~ PPSF: $298 LOT SF: 13,500 ~ PPLSF: $274

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65