Chariff Realty Group Purchases Retail Asset From David Wallack For $8 Million In Miami
SOLD
$8,000,000
Florida
See Similar DealsRetail
Sold
SOLD
Chariff Realty Group Purchases Retail Asset From David Wallack For $8 Million In Miami
3711 Ne 2nd Ave
See Similar DealsRetail
Sold
Summary
FLORIDA
Asset Type:Retail
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 3711 Ne 2nd Ave in Miami. The sale price for this asset was $8,000,000.00, highlighting its market presence and investment potential.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,000,000.00
- Address: 3711 Ne 2nd Ave
- Market: Miami
- Buyer: Chariff Realty Group
- Seller: David Wallack
- Broker: Tony Arellano - DWNTWN Realty Advisors
This transaction was notable for the involvement of key participants, including the buyer, Chariff Realty Group, and the seller, David Wallack. Representation in the transaction was provided by broker Tony Arellano of DWNTWN Realty Advisors, who facilitated the deal between the parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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