Ari Real Estate Acquires Retail Asset At Paraiso Plaza II In Hialeah For $16M
SOLD
$16,000,000
Florida
See Similar DealsRetail34,013 SF
Sold 06/03/2025
SOLD
Ari Real Estate Acquires Retail Asset At Paraiso Plaza II In Hialeah For $16M
3300 West 84th Street
See Similar DealsRetail34,013 SF
Sold 06/03/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$470
Total Square Footage:34,013 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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