3300 North Miami LLC Acquires Retail Property In Midtown Miami For $23 Million
SOLD
$23,000,000
Florida
See Similar DealsRetail24,925 SF
Sold 03/30/2022
SOLD
3300 North Miami LLC Acquires Retail Property In Midtown Miami For $23 Million
3300 North Miami Avenue, Miami, Florida 33127, United States
See Similar DealsRetail24,925 SF
Sold 03/30/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$922
Total Square Footage:24,925 SF
Transaction Type:Sale
The property involved in the transaction is located at 3300 N Miami Ave in the Midtown Miami market. This retail asset transacted for a total amount of $23,000,000, encompassing approximately 24,925 square feet, which equates to a price per square foot of $923.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $23,000,000
- Buyer: 3300 North Miami, LLC
- Seller: Gustavo & Martin Mikulitzki
- Brokers: Scott Sandelin, Alex D'Alba & Alex Zylberglait - Marcus & Millichap
- Date of Transaction: 03/30/2022
This transaction involved representatives from Marcus & Millichap, specifically Scott Sandelin, Alex D'Alba, and Alex Zylberglait, who facilitated the deal on behalf of their respective clients.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,226,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,714.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,031.73
Annual Debt Service$1,308,380.81
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