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

Property Image
SOLD
$18,150,000
Alfredo Riascos
TC
DL

Florida

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Retail81,224 SF
Sold 07/22/2022
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Property Image
SOLD

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

8200 Northeast 2nd Avenue

See Similar Deals
Retail81,224 SF
Sold 07/22/2022
Alfredo Riascos
TC
DL
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$223
Total Square Footage:81,224 SF
Transaction Type:Sale

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
Alfredo Riascos
48 deals$299.2M volume(305) 507-7098
BROKER
DL
Doug Levine
11 deals$102.1M volume
BUYER
TC
Thomas Conway
2 deals$31.5M volume
SELLER

Details

SOLD
IMAGE: Alfredo Riascos DATE: 07/22/2022 ADDRESS: 8200 NE 2nd Avenue MARKET: Little River ASSET TYPE: Retail BUYER: Doug Levine SELLER: Thomas Conway BROKER: Alfredo Riascos - Gridline Properties (@GridlineProperties) SALE PRICE: $18,150,000 SF: 81,224 ~ PPSF: $223 NOTE FROM BROKER: This off-market transaction was represented by Gridline Properties, Broker/Principal Alfredo Riascos who was the only broker involved. This adds to the firm's long list of recent investment sale transactions in Miami's urban core.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$967,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$64,483.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,040.26
Annual Debt Service$1,032,483.12