Soner Gedik Acquires Retail Property In North Miami From James Gianos For $1.4M
SOLD
$1,400,000
Florida
See Similar DealsRetail2,567 SF
Sold 05/16/2022
SOLD
Soner Gedik Acquires Retail Property In North Miami From James Gianos For $1.4M
510 Northeast 125th Street, North Miami, Florida 33161, United States
See Similar DealsRetail2,567 SF
Sold 05/16/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$545
Total Square Footage:2,567 SF
Transaction Type:Sale
Situated in North Miami, the retail property located at 510 NE 125th St has recently changed hands in a sale transaction. The deal was sealed on 05/16/2022 with a sale price of $1,400,000. Spanning across 2,567 square feet, the property was sold at a rate of $545 per square foot. The buyer in this transaction was Soner Gedik, while James Gianos acted as the seller.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,400,000
- Square Footage: 2,567
- Price per Square Foot: $545
- Market: North Miami
Facilitating this transaction were brokers Jonathan De La Rosa and Brandon Holmes, representing Marcus & Millichap. Their expertise and negotiation skills played a crucial role in bringing together the buyer and seller, ensuring a successful sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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