Chris Clementi Purchases Retail Property At 503-533 SW 12th Avenue Miami For $8.85M
SOLD
$8,850,000
Florida
See Similar DealsRetail26,648 SF
Sold 04/14/2025
SOLD
Chris Clementi Purchases Retail Property At 503-533 SW 12th Avenue Miami For $8.85M
503 Southwest 12th Avenue
See Similar DealsRetail26,648 SF
Sold 04/14/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$332
Total Square Footage:26,648 SF
Transaction Type:Sale
The asset involved in the transaction is a retail property located at 503-533 SW 12th Avenue in Miami. The sale was concluded for a price of $8,850,000, covering a total square footage of 26,648 and resulting in a price per square foot of $332.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,850,000
- Square Footage: 26,648
- Price per Square Foot: $332
- Buyer: Chris Clementi
- Brokers: Jonathan De La Rosa & Eduardo Toledo - Marcus & Millichap
- Lender: Frank De Ona - Ocean Bank
Jonathan De La Rosa and Eduardo Toledo represented the buyer, Chris Clementi, in this retail property transaction. Frank De Ona from Ocean Bank facilitated the financing for the deal.
Players
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$472,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,442.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,953.52
Annual Debt Service$503,442.18
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