Lerner Family Properties Acquires Retail Property In Wynwood For $5M
SOLD
Florida
See Similar DealsRetail5,500 SF
Sold 01/17/2024
SOLD
Lerner Family Properties Acquires Retail Property In Wynwood For $5M
300 Northwest 29th Street
See Similar DealsRetail5,500 SF
Sold 01/17/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$909
Total Square Footage:5,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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