GC3 Development Acquires Retail Property In Miami For $10.7M
7621 Southwest 87th Avenue, Miami, FL, USA
$10,700,000
$847/SF
Building Size
12,619 SF
Asset Type
Retail
Closing
Aug 7, 2021
About this deal
AI
A retail property located at 7621 Southwest 87th Avenue in Miami has been sold for a price of $10,700,000. The transaction took place on August 8, 2021. The property is owned by GC3 Development and the buyer is Michael Garcia-Carrillo.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,700,000
- Market: Miami
- Address: 7621 Southwest 87th Avenue
Michael Garcia-Carrillo, representing GC3 Development, acquired the retail property in Miami. The sale was completed on August 8, 2021.
The retail sale at 7621 Southwest 87th Avenue, Miami, FL, USA in Miami, Florida sold for $10.7M in 2021. The building is 12,619 square feet, implying about 847 per square foot on the published price. This page is the Miami, Florida file for the 7621 Southwest 87th Avenue, Miami, FL, USA retail sold: pricing, party profiles, and other closed retail comps from the same Miami sit in the Market section below. Filter that Miami retail set by closing date to see what else sold near 7621 Southwest 87th Avenue, Miami, FL, USA around 2021. Published consideration for 7621 Southwest 87th Avenue, Miami, FL, USA is $10.7M, dated 2021. Cite this GC3 Development Acquires Retail Property In Miami For $10.7M sale when underwriting similar retail product around Miami, Florida.
Players
Miami 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
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93