IRAS Group Sells Retail Property In Doral For $11M With Buyer's Rep Kristina Filippone & Seller's Rep Edward Romo
SOLD
$11,000,000
Florida
See Similar DealsRetail13,925 SF
Sold 04/21/2022
SOLD
IRAS Group Sells Retail Property In Doral For $11M With Buyer's Rep Kristina Filippone & Seller's Rep Edward Romo
3905 Northwest 107th Avenue, Doral, Florida 33178, United States
See Similar DealsRetail13,925 SF
Sold 04/21/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$789
Total Square Footage:13,925 SF
Transaction Type:Sale
The retail property located at 3905 NW 107th Avenue in Doral has been sold for a total price of $11,000,000. The sale was facilitated by Edward Romo and Scott Sandelin from Marcus & Millichap, who represented the seller, IRAS Group. Kristina Filippone from First City Realty Partners Inc acted as the buyer's representative in the transaction. The property spans a total area of 13,925 square feet, resulting in a price per square foot of $790.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $11,000,000
- Address: 3905 NW 107th Avenue, Doral
- Market: Doral
- Square Footage: 13,925
- Price Per Square Foot: $790
This transaction was completed on 04/21/2022, with the retail property being the asset of interest. IRAS Group served as the seller, with Edward Romo and Scott Sandelin representing them as the seller's representatives from Marcus & Millichap. The buyer was represented by Kristina Filippone of First City Realty Partners Inc.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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