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90 Southwest 8th Street, Mi...

Gazit Horizons Acquires Retail Property In Brickell For $20.1M
SOLDRetail

Gazit Horizons Acquires Retail Property In Brickell For $20.1M

90 Southwest 8th Street, Miami, Florida 33135, United States

$20,100,000

$2,151/SF

Building Size

9,343 SF

Asset Type

Retail

Closing

Mar 2, 2022

AI

Located at 90 Southwest Eighth Street in the Brickell market, this retail property was recently sold in a closed transaction. The sale took place on March 3, 2022. The property spans 9,343 square feet and has a sale price of $20,100,000, resulting in a price per square foot of $2,151. The land area of the property is 14,126 square feet.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $20,100,000
  • Address: 90 Southwest Eighth Street
  • Market: Brickell

Gazit Horizons, represented by Jeff Mooallem, purchased the property from Brickell Station Partners. The sellers were Bill Fuller and Martin Pinilla, accompanied by their representatives Hector Antunez and Juan Andres Nava from Metro 1 Commercial. On the buyer's side, Fabian Graff from Metro 1 Commercial served as the representative.

Players

Juan Andres Nava

Metro 1 Commercial

Broker

$193.4M

vol

35 deals

Broker

Jeff Mooallem

Gazit Horizons

Buyer

$219.6M

vol

4 deals

Buyer

Bill Fuller

Brickell Station Partners

Seller

$89.9M

vol

9 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

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93