El Car Wash Purchases Retail Property From Joe Cohen For $3.05 Million In Hialeah
SOLD
$3,050,000
Florida
See Similar DealsRetail3,516 SF
Sold 08/28/2024
SOLD
El Car Wash Purchases Retail Property From Joe Cohen For $3.05 Million In Hialeah
7560 Northwest 186th Street
See Similar DealsRetail3,516 SF
Sold 08/28/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$867
Total Square Footage:3,516 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$162,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,836.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,458.56
Annual Debt Service$173,502.67
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