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
About this deal
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
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