Patrick T. Caine Acquires Retail Property From James Morbit In Homestead For $2.9M
SOLD
$2,900,000
Florida
See Similar DealsRetail2,378 SF
Sold 08/30/2024
SOLD
Patrick T. Caine Acquires Retail Property From James Morbit In Homestead For $2.9M
30125 Dixie Highway
See Similar DealsRetail2,378 SF
Sold 08/30/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,219
Total Square Footage:2,378 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 30125 Dixie Highway in the market of Homestead. The sale occurred at a transaction price of $2,900,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,900,000
- Buyer: Patrick T. Caine
- Seller: James Morbit
- Brokers: Jonathan De La Rosa & Scott Sandelin - Marcus & Millichap
- Transaction Date: 08/30/2024
Key individuals involved in the deal include the buyer Patrick T. Caine and seller James Morbit. The transaction was facilitated by brokers Jonathan De La Rosa and Scott Sandelin from Marcus & Millichap, representing both sides in this retail property sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75
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