Jesus Diaz Buys Retail Property From Roberto Alvarez In Miami For $4M
3299 Northwest 2nd Avenue
$4,000,000
$597/SF
Building Size
6,690 SF
Asset Type
Retail
Closing
May 16, 2024
AI
The retail property located at 3299 Northwest 2nd Avenue in Miami was sold for $4,000,000. The property spans 6,690 square feet with a price per square foot of $598. The lot size is 18,664 square feet, resulting in a price per lot square foot of $214.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,000,000
- Seller: Roberto Alvarez
- Buyer: Jesus Diaz
- Brokers: Ernie Perez & Shelly Poston - Gridline Properties
Shelly Poston and Ernie Perez from Gridline Properties represented the buyer and seller respectively in the transaction involving the retail property in Miami. Jesus Diaz acquired the property from Roberto Alvarez at the specified price, facilitated by the expertise of the brokers.
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93