Alfredo Patrone Acquires Retail Property In Miami For $9.7M
SOLD
$9,700,000
+ 1
Florida
See Similar DealsRetail58,234 SF
Sold 02/16/2023
SOLD
Alfredo Patrone Acquires Retail Property In Miami For $9.7M
6991 Southwest 8th Street
See Similar DealsRetail58,234 SF
Sold 02/16/2023
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$166
Total Square Footage:58,234 SF
Transaction Type:Sale
A retail property located at 6991 Southwest 8th Street in Miami has been sold for $9,700,000. The property spans a total of 58,234 square feet, resulting in a price per square foot of $167.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,700,000
- Address: 6991 Southwest 8th Street, Miami
- Market: Miami
- Buyer: Alfredo Patrone
- Seller: Alejandro Ruzzoniello
- Brokers: Ricardo Esteves, Ronnie Issenberg, and Gabriel Britti - Marcus & Millichap
- Square Footage: 58,234
- Price per Square Foot: $167
The sale was facilitated by the brokers Ricardo Esteves, Ronnie Issenberg, and Gabriel Britti of Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$517,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,462.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,982.95
Annual Debt Service$551,795.38
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