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
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.
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