Chris Clementi Purchases Retail Property At 503-533 SW 12th Avenue Miami For $8.85M
503 Southwest 12th Avenue
$8,850,000
$332/SF
Building Size
26,648 SF
Asset Type
Retail
Closing
Apr 14, 2025
About this deal
AI
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.
On the Map
$8,850,000
$332/SF
Retail
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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
1.79%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93