Javier Cervera Jr. Acquires Westchester Retail Property For $25.3 Million
7971 Southwest 40th Street, Miami, Florida 33155, United States
$25,300,000
$340/SF
Building Size
74,294 SF
Asset Type
Retail
Closing
Feb 27, 2022
About this deal
AI
The retail property located at 7971 Southwest 40th Street in Westchester, Miami has been sold for a transaction amount of $25,300,000. The property spans across 5 acres and has a total square footage of 74,294. The sale price per square foot was $341.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $25,300,000
- Address: 7971 Southwest 40th Street, Westchester, Miami
- Market: Westchester, Miami
- Acres: 5
The buyer in this transaction was Javier Cervera Jr., represented by Cervera Real Estate Ventures. The seller was Tropical Park Plaza LLC, represented by Wilson & Juan Alayo & Topina Zingg.
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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93