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3600 Southwest 42nd Avenue

Jorge Ruiz & Scott Sandelin Facilitate $9.2M Sale Of Retail Property In Miami Springs
SOLDRetail

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

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

Scott Sandelin

Marcus & Millichap

Broker

$296.3M

vol

29 deals

Broker

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