SOLDRetail
Metro 1 Commercial Represents Both Parties In $2.45M Retail Sale On North Miami Beach
500 Northeast 167th Street
$2,455,000
$571/SF
Building Size
4,293 SF
Asset Type
Retail
Closing
Apr 14, 2023
About this deal
AI
The retail property located at 500 Northeast 167th Street in North Miami Beach has been sold for $2,455,000. The property spans 4,293 square feet, resulting in a price per square foot of $572.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,455,000
- Address: 500 Northeast 167th Street
- Market: North Miami Beach
Marc Chasin represented the buyer in this transaction, while Josh Rosa and Juan Andres Nava from Metro 1 Commercial represented the seller. For any inquiries regarding other opportunities in North Miami Beach along 163rd/167th Street, please contact the team at [email protected], [email protected], and [email protected]. Metro 1 Commercial is enthusiastic about the development in this area, which is central to Aventura, Sunny Isles, Surfside, and North Miami. They have expressed their excitement about the Chinatown Cultural Arts & Innovation District, boasting some of the best Asian restaurants in Florida, as well as the upcoming 6,500+ units in the Fulford District, featuring 20-30 story vertical developments.
On the Map
$2,455,000
$571/SF
Retail
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Players
Market 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
6.46%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93