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646 Northeast 79th Street

Jagruti Patel Of Patel Family Acquires Retail Property In Miami For $787,500
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Jagruti Patel Of Patel Family Acquires Retail Property In Miami For $787,500

646 Northeast 79th Street

$787,500

$428/SF

Building Size

1,836 SF

Asset Type

Retail

Closing

Apr 29, 2024

AI

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.

Players

Leor Fidler

Silmar Realty

Broker

$9M

vol

9 deals

Broker

Miami 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

20.14%

Cash-on-Cash

-5.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93