Robert Balogh Acquires $18.5M Retail Property In South Miami With Seller's Rep Avison Young & Maddux Co
SOLD
$18,500,000
+ 3
Florida
See Similar DealsRetail30,762 SF
Sold 06/23/2022
SOLD
Robert Balogh Acquires $18.5M Retail Property In South Miami With Seller's Rep Avison Young & Maddux Co
5700 Southwest 72nd Street
See Similar DealsRetail30,762 SF
Sold 06/23/2022
+ 3
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$601
Total Square Footage:30,762 SF
Transaction Type:Sale
The retail property located at 5700 Sunset Drive in South Miami has been sold in a transaction worth $18,500,000. The property spans 30,762 square feet, resulting in a price per square foot of $601. The sale took place on June 23, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $18,500,000
- Address: 5700 Sunset Drive
- Market: South Miami
- Square Footage: 30,762
- Price Per Square Foot: $601
Robert Balogh has acted as the buyer in this transaction, while the seller is the Estate of Louis M. Jepeway, Jr. The buyer was represented by Adam Freeman. On the seller's side, the representatives involved are Michael T. Fay, Brian C. de la Fé, John K. Crotty, and David Duckworth from Avison Young, along with Joseph H. Weston from Maddux Co.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$986,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,726.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,699.44
Annual Debt Service$1,052,393.26
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