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2955 Southwest 8th Street, ...

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

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

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

$3,700,000

$297/SF

Building Size

12,430 SF

Asset Type

Retail

Closing

Jun 12, 2022

AI

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

Gabriel Reategui

Broker

$7.9M

vol

2 deals

Broker
APEX Capital Realty
APEX Capital RealtyBrokerage

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

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93