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IMC Equity Group Acquires Retail Property In Hialeah For $2.75M
SOLD
$2,750,000
Florida
See Similar DealsRetail12,056 SF
Sold 08/01/2023
SOLD
IMC Equity Group Acquires Retail Property In Hialeah For $2.75M
3825 W 16th Ave Hialeah, FL 33012, USA
See Similar DealsRetail12,056 SF
Sold 08/01/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$228
Total Square Footage:12,056 SF
Transaction Type:Sale
The West Hialeah 16th Avenue Commercial Center, a 12,056-square-foot retail property located at 3825 West 16th Avenue in Hialeah, has been sold for $2.75 million. The property is anchored by Cano Health, a Miami-based publicly traded healthcare provider offering specialty programs. The sale was facilitated by Marcus & Millichap, with brokers Drew Kristol and Kirk Olson overseeing the transaction.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $2,750,000
- Square Footage: 12,056 sqft
- Price per Square Foot: $228
- Address: 3825 West 16th Avenue, Hialeah
- Market: Hialeah
IMC Equity Group purchased the West Hialeah 16th Avenue Commercial Center for $2.75 million. Drew Kristol and Kirk Olson from Marcus & Millichap represented the buyer in the transaction. This acquisition adds to IMC Equity Group's growing portfolio of retail properties in the Hialeah market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$146,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
Annual Debt Service$156,436.84
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