Miami Retail Property Sells For $2M With Brokers Tony Arellano & Devlin Marinoff - DWNTWN Realty Advisors
50 NE 62nd St Miami, FL 33138, USA
$2,000,000
$559/SF
Building Size
3,574 SF
Asset Type
Retail
Closing
Apr 13, 2023
About this deal
AI
A retail property located at 50 Northeast 62nd Street in Miami has been sold in a closed transaction. The property spans a total area of 3,574 square feet and was sold for a price of $2,000,000, resulting in a price per square foot of $560.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,000,000
- Address: 50 Northeast 62nd Street, Miami
The seller of the property is Federico Citoni. The transaction was facilitated by Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors, who represented the buyer and seller in the deal.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93