Firpo Garcia Acquires Retail Property On Biltmore Way In Miami For $4.8M
SOLD
$4,800,000
Florida
See Similar DealsRetail8,034 SF
Sold 10/15/2021
SOLD
Firpo Garcia Acquires Retail Property On Biltmore Way In Miami For $4.8M
490 Biltmore Way, Coral Gables, Miami-Dade, FL, USA
See Similar DealsRetail8,034 SF
Sold 10/15/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$597
Total Square Footage:8,034 SF
Transaction Type:Sale
The retail property located at 480 & 490 Biltmore Way in Miami has been sold in a transaction that closed on October 15, 2021. The property spans 8,034 square feet and was sold for a total price of $4,800,000, resulting in a price per square foot of $597.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,800,000
- Address: 480 & 490 Biltmore Way, Miami
- Square Footage: 8,034
- Price per Square Foot: $597
Firpo Garcia acted as the buyer in this transaction, while John Guarino represented the seller. Additional details regarding the individuals and companies involved in the deal are not available.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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