Ari Real Estate Acquires Retail Asset At Paraiso Plaza II In Hialeah For $16M
3300 West 84th Street
$16,000,000
$470/SF
Building Size
34,013 SF
Asset Type
Retail
Closing
Jun 2, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at Paraiso Plaza II, specifically at 3300-3320 W 84th St, Hialeah, FL. The transaction was finalized for a sale price of $16,000,000, encompassing a total square footage of 34,013. The price per square foot is reported to be $470, highlighting the market dynamics in Hialeah.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,000,000
- Buyer: Ari Real Estate
- Seller: CMG Properties
- Brokers: Justin Walker & Dylan Morse - Franklin Street
- Market: Hialeah
- SF: 34,013
- PPSF: $470
This transaction involved Franklin Street's South Florida Retail Team, who received 15 offers within a 27-day marketing period, successfully selling the property at the asking price with hard money secured on the first day.
On the Map
$16,000,000
$470/SF
Retail
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Players
Hialeah 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93