Mount Sinai Medical Center Acquires 5.6-Acre Auto Dealership Site In Westchester, Miami For $32M
8250 SW 8th St Miami, FL 33144, USA
$32,000,000
$1,277/SF
Building Size
25,046 SF
Asset Type
Retail
Closing
Sep 4, 2023
About this deal
AI
Mount Sinai Medical Center in Miami Beach has acquired a 5.6-acre auto dealership site in Westchester, Miami for $32 million. The property, located at 8250 & 8200 Southwest Eighth Street, is a retail asset spanning 25,046 square feet. The price per square foot for this transaction is $1,278.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $32,000,000
- Address: 8250 & 8200 Southwest Eighth Street
- Market: Westchester, Miami
- Acres: 5.6
The buyer, Mount Sinai Medical Center represented by Barry Skolnick, acquired the property from seller Magic 8th LLC, represented by Jorge L. Cruz. The purchase further demonstrates Mount Sinai Medical Center's expansion efforts in Miami-Dade County. However, specific plans for the newly acquired property have not been disclosed at this time.
On the Map
$32,000,000
$1,277/SF
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93