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Rilea Group And Ciprés Sell Retail Space At The Rider Residences In Miami For $2.4M
SOLD
$2,400,000
Florida
See Similar DealsRetail1,704 SF
Sold 02/21/2025
SOLD
Rilea Group And Ciprés Sell Retail Space At The Rider Residences In Miami For $2.4M
94 Northeast 29th Street
See Similar DealsRetail1,704 SF
Sold 02/21/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,408
Total Square Footage:1,704 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 94 Northeast 29th Street in Miami. The total sale price for this asset was $2,400,000.00, and it encompasses a square footage of 1,704.0.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,400,000.00
- Address: 94 Northeast 29th Street
- Market: Miami
- Seller: Diego Ojeda (Rilea Group) and Ciprés
- Square Footage: 1,704.0
Rilea Group and Ciprés sold a 1,704-square-foot retail space at The Rider Residences (@theriderresidences) in Miami for $2.4 million to an undisclosed buyer, marking the second-highest retail sale price per square foot in the area. The 12-story, 146-unit condo development, located at the Midtown-Wynwood intersection, continues to benefit from strong commercial demand and Amazon’s upcoming expansion into Wynwood.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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