Rodolfo Fuentes Acquires Retail Property On South Beach For $9.4M
524 Jefferson Avenue, Miami Beach, Florida 33139, United States
$9,400,000
$625/SF
Building Size
15,020 SF
Asset Type
Retail
Closing
May 31, 2022
About this deal
AI
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.
On the Map
$9,400,000
$625/SF
Retail
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Players
Miami Beach 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
1.69%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93