Jagruti Patel Of Patel Family Acquires Retail Property In Miami For $787,500
SOLD
$787,500
Florida
See Similar DealsRetail1,836 SF
Sold 04/29/2024
SOLD
Jagruti Patel Of Patel Family Acquires Retail Property In Miami For $787,500
646 Northeast 79th Street
See Similar DealsRetail1,836 SF
Sold 04/29/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$428
Total Square Footage:1,836 SF
Transaction Type:Sale
The property involved in this transaction is a retail asset located at 646 Northeast 79th Street in Miami. The sale price for the property was $787,500, covering an area of 1,836 square feet, which equates to $429 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $787,500
- Address: 646 Northeast 79th Street
- Market: Miami
- Square Footage: 1,836
- Price Per Square Foot: $429
- Buyer: Jagruti Patel - Patel Family
- Seller: Salvador Castillo
- Broker: Leor Fidler - Silmar Realty
- Broker: Gasper Mavric - Berkshire Hathaway HomeServices Florida Realty
Jagruti Patel, representing the Patel Family, acquired the property from Salvador Castillo with the assistance of brokers Leor Fidler from Silmar Realty and Gasper Mavric from Berkshire Hathaway HomeServices Florida Realty. The transaction was finalized on April 29, 2024.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$42,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,797.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,733.15
Annual Debt Service$44,797.82
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