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
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