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
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