Juan Andres Nava & Josh Rosa Of Metro 1 Commercial Sell Retail Property In Miami For $1.5M
5960 Northeast 2nd Avenue
$1,500,000
$301/SF
Building Size
4,979 SF
Asset Type
Retail
Closing
Mar 1, 2023
AI
The asset involved in this transaction is a retail property located at 5960 Northeast 2nd Avenue in the Miami market. The total sale price for the property was $1,500,000, with a square footage of 4,979 and a price per square foot of $301.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,500,000
- Address: 5960 Northeast 2nd Avenue
- Market: Miami
- Square Footage: 4,979
- Price per Square Foot: $301
- Seller's Representatives: Juan Andres Nava - Metro 1 Commercial, Josh Rosa - Metro 1 Commercial
The buyer now controls three properties on the gateway to the Magic City Innovation District - Little Haiti, and is actively working on improving the neighborhood. Notably, they are enhancing the former "Cleaners" building and making efforts to improve 5955 NE 2 Ave, which was also sold to this same buyer. Metro 1 represented both sides in this transaction.
Players
Market Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93