RIPCO Real Estate Brokers Sell Miami Retail Property For $9.8M At 7870 West Flagler St
SOLD
$9,765,000
+ 1
Florida
See Similar DealsRetail4,736 SF
Sold
SOLD
RIPCO Real Estate Brokers Sell Miami Retail Property For $9.8M At 7870 West Flagler St
7870 West Flagler Street
See Similar DealsRetail4,736 SF
Sold
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$2061
Total Square Footage:4736 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$520,800.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,692.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,291.08
Annual Debt Service$555,492.98
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