Lerner Family Properties Acquires Retail Property In Wynwood For $5M
300 Northwest 29th Street
$5,000,000
$909/SF
Building Size
5,500 SF
Asset Type
Retail
Closing
Jan 17, 2024
About this deal
AI
The retail property at 300 Northwest 29th Street in Wynwood has been sold in a closed transaction. The property spans approximately 5,500 square feet and was sold for a price of $5,000,000, which translates to a price per square foot of $909.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,000,000
- Address: 300 Northwest 29th Street
- Market: Wynwood
- Buyer: Lerner Family Properties
- Seller: Red Group
- Brokers: Tony Arellano & David Lerner - DWNTWN Realty Advisors
The deal was facilitated by brokers Tony Arellano and David Lerner of DWNTWN Realty Advisors. They represented their respective parties in the transaction.
On the Map
$5,000,000
$909/SF
Retail
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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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93