Alihan M. Yalcindag Acquires Retail Property In Miami From Harry Benitah For $9.3M
4670 Northeast 2nd Avenue
$9,300,000
$396/SF
Building Size
23,468 SF
Asset Type
Retail
Closing
Feb 18, 2025
AI
A 23,468-square-foot mixed-use retail property was sold for $9,300,000 at 4670 Northeast 2nd Avenue in the Miami market. The property encompasses 0.28 acres and carries a price per square foot of $396. The transaction showcases a significant investment in the retail sector in this location.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,300,000
- Address: 4670 Northeast 2nd Avenue
- Market: Miami
- Square Footage: 23,468
- Price per Square Foot: $396
- Buyer: Alihan M. Yalcindag - MADA Miami Investment LLC
- Seller: Harry Benitah - RFIF LLC
- Broker: Juan Andres Nava - Metro 1 Commercial
MADA Miami Investment LLC, connected to Alihan M. Yalcindag, has completed the purchase from RFIF LLC, associated with Harry Benitah. The representation in this transaction was carried out by Juan Andres Nava from Metro 1 Commercial, acting on behalf of the seller.
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
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93