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7560 Northwest 186th Street

El Car Wash Purchases Retail Property From Joe Cohen For $3.05 Million In Hialeah
SOLDRetail

El Car Wash Purchases Retail Property From Joe Cohen For $3.05 Million In Hialeah

7560 Northwest 186th Street

$3,050,000

$867/SF

Building Size

3,516 SF

Asset Type

Retail

Closing

Aug 28, 2024

AI

The property involved in this transaction is a retail asset located at 7560 Northwest 186th Street in Hialeah. It was sold for $3,050,000, consisting of 3,516 square feet, which results in a price per square foot of $867.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $3,050,000
  • Square Footage: 3,516
  • Price per Square Foot: $867
  • Buyer: El Car Wash
  • Seller: Joe Cohen - Colonial Suites INC
  • Broker Representatives: Jarett Zackman & Michael Talbert - Horvath & Tremblay
  • Transaction Date: 08/28/2024

This transaction was brokered by Jarett Zackman and Michael Talbert, representing the parties involved. El Car Wash is the buyer acquiring the property, while Joe Cohen represents the seller Colonial Suites INC, facilitating the deal's successful completion.

Players

Michael Talbert

Vero Capital Group

Broker

$38M

vol

9 deals

Broker

Hialeah 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

5.20%

Cash-on-Cash

-1.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93