Marcus & Millichap Brokers $5.7M Sale Of Plaza 77 Shops In Miami From Seller Plaza 77 Shops LLC
9600 Southwest 77th Avenue
$5,700,000
$594/SF
Building Size
9,590 SF
Asset Type
Retail
Closing
Apr 15, 2025
AI
The property asset involved in this transaction is a retail strip known as Plaza 77 Shops, located at 9600 Southwest 77th Avenue in Miami. The asset spans a total of 9,590 square feet and was sold for $5,700,000, reflecting a price per square foot of $594. This retail property is situated in the Dadeland area and is anchored by notable tenants including Trulieve and Domino's.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $5,700,000
- Square Footage: 9,590
- Price Per Square Foot: $594
- Address: 9600 Southwest 77th Avenue
- Market: Miami
- Seller: Plaza 77 Shops LLC
- Brokers: Drew Kristol & Kirk Olson - Marcus & Millichap
Drew Kristol and Kirk Olson from Marcus & Millichap represented the seller, Plaza 77 Shops LLC, in this transaction. They successfully secured a local private investor as the buyer for the retail asset.
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
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93