Jorge Ruiz & Scott Sandelin Facilitate $9.2M Sale Of Retail Property In Miami Springs
$9,200,000
Building Size
—
Asset Type
Retail
Closing
Mar 5, 2024
About this deal
AI
The $9.2 million sale of a single-tenant retail property in Miami Springs has been completed. The property, located at 3600 South Le Jeune Road, is occupied by Office Depot under a triple-net lease. The seller's representative was Scott Sandelin from Marcus & Millichap, who acquired the property in 2012. On the other hand, the buyer's representative, Jorge Ruiz from Premier Properties, facilitated the transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,200,000
- Address: 3600 South Le Jeune Road
- Market: Miami Springs
Scott Sandelin of Marcus & Millichap brokered the sale of the property, showcasing his experience and expertise in the real estate market. Meanwhile, Jorge Ruiz from Premier Properties demonstrated his skills in representing the buyer's interests effectively, ensuring a successful transaction for all parties involved.
Players
Market 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
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93