Rodolfo Fuentes Acquires Retail Property On South Beach For $9.4M
SOLD
$9,400,000
Florida
See Similar DealsRetail15,020 SF
Sold 06/01/2022
SOLD
Rodolfo Fuentes Acquires Retail Property On South Beach For $9.4M
524 Jefferson Avenue, Miami Beach, Florida 33139, United States
See Similar DealsRetail15,020 SF
Sold 06/01/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$625
Total Square Footage:15,020 SF
Transaction Type:Sale
An retail property located at 524 Jefferson Avenue in South Beach has been sold for a total amount of $9,400,000. The property spans a total of 15,020 square feet with a price per square foot of $626. The sale was completed on 06/01/2022.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $9,400,000
- Square Feet: 15,020
- Price Per Square Foot: $626
- Address: 524 Jefferson Avenue
- Market: South Beach
The buyer of the property is Rodolfo Fuentes, while the seller is Mast Capital with Camilo Miguel Jr. representing them. The deal was facilitated by Scott Sandelin and Alejandro D'Alba from Marcus & Millichap.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$501,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,396.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,560.80
Annual Debt Service$534,729.55
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