RIPCO Real Estate Brokers Sell Miami Retail Property For $9.8M At 7870 West Flagler St
7870 West Flagler Street
$9,765,000
$2,061/SF
Building Size
4,736 SF
Asset Type
Retail
Closing
Mar 2, 2023
AI
The retail property located at 7870 West Flagler Street in Miami has been sold in a closed transaction for $9,765,000. The property spans a total area of 4,736 square feet, resulting in a price per square foot of $2,062. With a cap rate of 4.2%, this transaction represents a significant investment in the retail market.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $9,765,000
- Square Footage: 4,736
- Price Per Square Foot: $2,062
- Cap Rate: 4.2%
Leading the deal on behalf of the sellers were Stephen R. Preuss, Christian Allimonos, Andreas Efthymiou, and Robert Sharfstein from RIPCO Real Estate. Their expertise and negotiation skills contributed to the successful completion of this transaction.
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
1.62%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93