Whole Foods Acquires Downtown Miami's Met 3 Retail Space For $21M
299 Southeast 3rd Avenue
$21,000,000
$215/SF
Building Size
97,674 SF
Asset Type
Retail
Closing
Jan 3, 2024
AI
Jodie W. McLean & Jason Buechel have completed a retail property transaction in Miami. The property is located at 299 Southeast Third Avenue and has a total area of 97,674 square feet. The sale price was $21,000,000, resulting in a price per square foot of $215.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $21,000,000
- Address: 299 Southeast Third Avenue
- Market: Miami
Jason Buechel, representing Whole Foods, acted as the buyer in this transaction, while Jodie W. McLean, representing EDENS, served as the seller. The property was previously sold for $19.63 million in 2015 and is now owned by GBD Properties, an affiliate of Whole Foods.
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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93