SOLDRetail
Alfredo Patrone Acquires Retail Property In Miami For $9.7M
6991 Southwest 8th Street
$9,700,000
$166/SF
Building Size
58,234 SF
Asset Type
Retail
Closing
Feb 16, 2023
AI
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.
Players
Market 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
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93