3300 North Miami LLC Acquires Retail Property In Midtown Miami For $23 Million
3300 North Miami Avenue, Miami, Florida 33127, United States
$23,000,000
$922/SF
Building Size
24,925 SF
Asset Type
Retail
Closing
Mar 29, 2022
AI
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.
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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93