IMC Equity Group Acquires Retail Property In Hialeah For $2.75M
3825 W 16th Ave Hialeah, FL 33012, USA
$2,750,000
$228/SF
Building Size
12,056 SF
Asset Type
Retail
Closing
Aug 1, 2023
About this deal
AI
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.
Players
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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93