Ian Wilbenstein Acquires Retail Property In Miami Shores For $2.47M
555 Northeast 8th Street, Homestead, FL 33030
$2,475,000
$206/SF
Building Size
12,015 SF
Asset Type
Retail
Closing
Apr 23, 2021
About this deal
AI
An 12,015 square foot retail property located at 555-559 NE 8th Street in Miami Shores has been sold for a price of $2,475,000. The property was sold on 04/24/2021. The buyer of this retail asset is Ian Wilbenstein while the sellers are Joao & Jamie Perez. The transaction was facilitated by brokers Jonathan De La Rosa & Matthew Albregts. The property is situated in the Miami Shores market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,475,000
- Square Footage: 12,015
- Price per Square Foot: $206
- Capitalization Rate: 5.45%
Jonathan De La Rosa & Matthew Albregts represented the buyers and sellers respectively in this retail property sale.
Players
Homestead 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
6.41%
Cash-on-Cash
-1.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93