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8200 Northeast 2nd Avenue

Doug Levine Acquires Retail Property On NE 2nd Avenue In Little River For $18.15M
SOLDRetail

Doug Levine Acquires Retail Property On NE 2nd Avenue In Little River For $18.15M

8200 Northeast 2nd Avenue

$18,150,000

$223/SF

Building Size

81,224 SF

Asset Type

Retail

Closing

Jul 22, 2022

AI

Gridline Properties has recently closed another investment sale transaction in Miami's urban core. The off-market sale involved a retail property located at 8200 NE 2nd Avenue in the Little River market. The transaction was represented by Alfredo Riascos, the Broker/Principal at Gridline Properties.

Summary of transaction details:

  • Property Type: Retail
  • Sale Price: $18,150,000
  • Square Feet: 81,224
  • Price per Square Foot: $223
  • Address: 8200 NE 2nd Avenue
  • Market: Little River

Doug Levine purchased the property from Thomas Conway in this closed transaction. Alfredo Riascos, representing Gridline Properties, was the only broker involved in the deal. This successful transaction further adds to Gridline Properties' track record of investment sale transactions in Miami's urban core.

Players

Alfredo Riascos

Gridline Properties

Broker

$331.2M

vol

49 deals

Broker

Doug Levine

Buyer

$102.1M

vol

11 deals

Buyer

Thomas Conway

Seller

$31.5M

vol

2 deals

Seller

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

0.87%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93