Justin Landau & Geoffrey Karas Acquire Automotive Property In Miami For $4.45M
SOLD
$4,450,000
Florida
See Similar DealsRetail2,520 SF
Sold 11/01/2022
SOLD
Justin Landau & Geoffrey Karas Acquire Automotive Property In Miami For $4.45M
7140 Southwest 8th Street, Miami, Florida 33135, United States
See Similar DealsRetail2,520 SF
Sold 11/01/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,765
Total Square Footage:2,520 SF
Transaction Type:Sale
The automotive property located at 7140 SW 8th St in Miami, FL, has been sold for a transaction value of $4,450,000. Spanning over an area of 2,520 square feet, the property was acquired by Justin Landau & Geoffrey Karas from the seller, Alejandro Chomat. The price per square foot for this transaction comes to $1,765.
Summary of transaction details
- Property Type: Automotive
- Transaction Amount: $4,450,000
- Address: 7140 SW 8th St, Miami, FL
- Market: Miami, FL
- Buyer: Justin Landau & Geoffrey Karas
- Seller: Alejandro Chomat
- Square Footage: 2,520
- Price per Square Foot: $1,765
Justin Landau & Geoffrey Karas have successfully completed the acquisition of the automotive property at 7140 SW 8th St in Miami, FL. Alejandro Chomat acted as the seller's representative in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$237,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,809.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,095.27
Annual Debt Service$253,143.24
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