$11.3M Retail Property Sold In Miami Beach By Alejandro D’Alba & Scott C. Sandelin - Marcus & Millichap
SOLD
$11,250,000
Florida
See Similar DealsRetail4,370 SF
Sold 04/08/2021
SOLD
$11.3M Retail Property Sold In Miami Beach By Alejandro D’Alba & Scott C. Sandelin - Marcus & Millichap
6348 Collins Avenue, Miami Beach, FL 33141
See Similar DealsRetail4,370 SF
Sold 04/08/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$2,574
Total Square Footage:4,370 SF
Transaction Type:Sale
An $11,250,000 retail property located at 6348 Collins Avenue in Miami Beach was recently sold. The transaction took place on April 8, 2021. The property spans approximately 4,370 square feet, resulting in a price per square foot of $2,574.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,250,000
- Date: 04/08/2021
- Address: 6348 Collins Avenue
- Market: Miami Beach
The sale was facilitated by Alejandro D’Alba and Scott C. Sandelin of Marcus & Millichap, who acted as the brokers representing the involved parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$600,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,968.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,330.74
Annual Debt Service$639,968.87
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