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
About this deal
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.
On the Map
$787,500
$428/SF
Retail
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Players
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