Soner Gedik Acquires Retail Property In North Miami From James Gianos For $1.4M
510 Northeast 125th Street, North Miami, Florida 33161, United States
$1,400,000
$545/SF
Building Size
2,567 SF
Asset Type
Retail
Closing
May 15, 2022
About this deal
AI
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.
Players
North 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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93