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3690 Southwest 40th Street,...

Laith Hermiz Acquires Store In Miami, FL For $3.18M
SOLDRetail

Laith Hermiz Acquires Store In Miami, FL For $3.18M

3690 Southwest 40th Street, Miami, Florida 33155, United States

$3,186,403

$499/SF

Building Size

6,380 SF

Asset Type

Retail

Closing

Jul 4, 2022

AI

The property at 3690 SW 40th St in Miami, FL has been sold. The store, with a total area of 6,380 square feet, was purchased by Laith Hermiz from Andrew Juvan. The transaction took place on July 5, 2022, and the sale price was $3,186,403, resulting in a price per square foot of $499.

Summary of transaction details

  • Property Type: Store
  • Transaction Amount: $3,186,403
  • Square Footage: 6,380
  • Address: 3690 SW 40th St, Miami, FL
  • Buyer: Laith Hermiz
  • Seller: Andrew Juvan

Laith Hermiz and Andrew Juvan were the key individuals involved in this sale transaction. Laith Hermiz represented himself, while Andrew Juvan was represented by their broker.

Players

Laith Hermiz

Ironside Realty

Broker

$17.5M

vol

4 deals

Broker
Laith Hermiz

Laith Hermiz

Buyer

$17.5M

vol

4 deals

Buyer

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

4.98%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93