Rise Star LLC Acquires Hollywood Retail Property For $15M
SOLD
$15,000,000
Florida
See Similar DealsRetail63,652 SF
Sold 07/01/2022
SOLD
Rise Star LLC Acquires Hollywood Retail Property For $15M
16770 Northwest 37th Avenue, Miami Gardens, Florida 33056, United States
See Similar DealsRetail63,652 SF
Sold 07/01/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$235
Total Square Footage:63,652 SF
Transaction Type:Sale
The retail property located at 3753, 3791 NW 167th Street & 16770 NW 37th Avenue in Hollywood has been sold for $15,000,000. The property spans across 6.8 acres and offers a total square footage of 63,652. The price per square foot for this transaction was $236.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $15,000,000
The buyer of the property is Rise Star LLC, represented by Valentina Georgescu. The seller, on the other hand, includes El Family Property Owner LLC, RL Family Property Owner LLC, and SLMJL Family Property Owner LLC. Emillio, Sabatino, and Rossana Lamanna are the owners of these entities respectively. The lenders involved in the transaction are BayVanguard Bank and Pacific Coast Bankers.
Please note that no additional information is available regarding this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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