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3301 Northeast 1st Avenue

All You Need Cafe Acquires Retail Space From La Causa For $500,000 In Miami
SOLDRetail

All You Need Cafe Acquires Retail Space From La Causa For $500,000 In Miami

3301 Northeast 1st Avenue

$500,000

$454/SF

Building Size

1,100 SF

Asset Type

Retail

Closing

Oct 16, 2024

AI

The retail property located at 3301 Northeast 1st Avenue in the Miami market has been sold for a transaction amount of $500,000. The property features a total square footage of 1,100, resulting in a price per square foot of $454.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $500,000
  • Address: 3301 Northeast 1st Avenue
  • Market: Miami
  • Square Footage: 1,100
  • Price per Square Foot: $454
  • Buyer: All you need Cafe
  • Seller: La Causa
  • Buyer's Representative: Cesar Jimenez - SellBuyRestaurants.com
  • Seller's Representative: Ilan Sitt - Sherpa Consultancy

This transaction involved key representatives in the restaurant industry, with Cesar Jimenez representing the buyer, All you need Cafe, and Ilan Sitt representing the seller, La Causa, through their respective agencies. The successful closing of this deal reflects the active engagement within the retail sector in Miami.

Players

Ilan Sitt

Sherpa Consultancy

Broker

$2M

vol

4 deals

Broker

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

31.73%

Cash-on-Cash

-9.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93