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299 Southeast 3rd Avenue

Whole Foods Acquires Downtown Miami's Met 3 Retail Space For $21M
SOLDRetail

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

Jason Buechel

Whole Foods

Buyer

$21M

vol

5 deals

Buyer

Jodie W. McLean

Edens

Seller

$359.1M

vol

8 deals

Seller

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