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Marcus & Millichap Brokers $5.7M Sale Of Plaza 77 Shops In Miami From Seller Plaza 77 Shops LLC

Property Image
SOLD
$5,700,000
Kirk Olson
Drew Kristol

Florida

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Retail9,590 SF
Sold 04/15/2025
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Brokers $5.7M Sale Of Plaza 77 Shops In Miami From Seller Plaza 77 Shops LLC

9600 Southwest 77th Avenue

See Similar Deals
Retail9,590 SF
Sold 04/15/2025
Kirk Olson
Drew Kristol
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$594
Total Square Footage:9,590 SF
Transaction Type:Sale

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

Drew Kristol
Marcus & Millichap
Drew Kristol
46 deals$560.5M volume(786) 522-7065
BROKER
Kirk Olson
Marcus & Millichap
Kirk Olson
46 deals$569.8M volume(786) 522-7064
BROKER

Details

SOLD
IMAGE: Drew Kristol & Kirk Olson DATE: 04/15/2025 ADDRESS: 9600 Southwest 77th Avenue MARKET: Miami ASSET TYPE: Retail SELLER: Plaza 77 Shops LLC BROKERS: Drew Kristol (@DaKristol66) & Kirk Olson - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $5,700,000 SF: 9,590 ~ PPSF: $594 NOTE: Marcus & Millichap brokered the $5.7M sale of Plaza 77 Shops, a 9,590 SF retail strip in Miami’s Dadeland area anchored by Trulieve and Domino’s. Drew Kristol and Kirk Olson represented seller Plaza 77 Shops LLC and secured a local private investor as the buyer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$304,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90