Vella Group Acquires Retail Asset From East End Capital In Miami For $12.3M
325 Nw 24th St & 339 Nw 24th St
$12,300,000
Building Size
—
Asset Type
Retail
Closing
Aug 1, 2024
About this deal
AI
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.
On the Map
$12,300,000
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
1.29%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93