Patrick T. Caine Acquires Retail Property From James Morbit In Homestead For $2.9M
30125 Dixie Highway
$2,900,000
$1,219/SF
Building Size
2,378 SF
Asset Type
Retail
Closing
Aug 30, 2024
About this deal
AI
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.
On the Map
$2,900,000
$1,219/SF
Retail
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Players
Homestead 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93