VF4 Crystal Lake LLC Acquires Retail Property In Miami-Dade For $22.7M From Seller MMG Equity Partners
3338 Southwest 7th Street, Miami, FL, USA
$22,700,000
$264/SF
Building Size
85,714 SF
Asset Type
Retail
Closing
Feb 25, 2020
About this deal
AI
The retail property located at 3338 Northeast 7th St in Miami-Dade has been sold in a recent transaction. The sale took place on February 26, 2020, with a total sale price of $22,700,000. The property spans across 85,714 square feet, resulting in a price per square foot of $265. The buyer, VF4 Crystal Lake LLC, represented by Jose Chacalo Hilu, acquired the property from the seller, MMG Equity Partners, represented by Gabriel Navarro. The transaction involved the services of brokers Kirk Olson and Drew Kristol from Marcus & Millichap.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $22,700,000
- Address: 3338 Northeast 7th St, Miami-Dade
- Square Footage: 85,714 SF
- Price per Square Foot: $265
- Buyer: VF4 Crystal Lake LLC - Jose Chacalo Hilu
- Seller: MMG Equity Partners - Gabriel Navarro
- Brokers: Kirk Olson & Drew Kristol - Marcus & Millichap
This transaction showcases the active market in Miami-Dade for retail properties. It demonstrates the confidence of buyers in investing in commercial real estate in this region. The involvement of reputable brokers, Kirk Olson and Drew Kristol from Marcus & Millichap, further highlights the significance of this deal in the local market.
On the Map
$22,700,000
$264/SF
Retail
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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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93