Vella Group Acquires Retail Asset From East End Capital In Miami For $12.3M
SOLD
$12,300,000
Florida
See Similar DealsRetail
Sold 08/01/2024
SOLD
Vella Group Acquires Retail Asset From East End Capital In Miami For $12.3M
325 Nw 24th St & 339 Nw 24th St
See Similar DealsRetail
Sold 08/01/2024
Summary
FLORIDA
Asset Type:Retail
Transaction Type:Sale
The asset involved in the transaction is a retail property located at 325 Nw 24th St in the Miami market. The property was sold for a transaction amount of $12,300,000.00.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,300,000.00
- Buyer: Vella Group
- Seller: East End Capital
- Brokers: Tony Arellano (DWNTWN Realty Advisors)
- Date of Sale: 08/01/2024
The Vella Group acted as the buyer in this transaction, while East End Capital served as the seller. The brokerage services for this deal were handled by Tony Arellano of DWNTWN Realty Advisors, representing the involved parties during the negotiation and sale process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$655,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,699.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$58,308.28
Annual Debt Service$699,699.30
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