Maestra Dadeland, LLC Acquires Retail Property In Pinecrest For $5.5M
9690 South Dixie Highway, Miami, Florida 33156, United States
$5,500,000
$2,508/SF
Building Size
2,193 SF
Asset Type
Retail
Closing
Mar 29, 2022
AI
Pinecrest is now home to a new retail property after a recent sale. Located at 9690 S Dixie Hwy, this asset offers 19,845 square feet of space. The transaction was completed on 03/30/2022, with Maestra Dadeland, LLC acquiring the property from Limestone Asset Management, represented by Ibrahim Al-Rashid. Joseph Sanz, from Orion Real Estate Group, served as the broker for this deal.
Summary of transaction details
- Property Type: Retail
- Sale Price: $5,500,000
- Square Footage: 19,845
- Price per Square Foot: $277
- Market: Pinecrest
- Buyer: Maestra Dadeland, LLC
- Seller: Limestone Asset Management - Ibrahim Al-Rashid
- Broker: Joseph Sanz - Orion Real Estate Group
- Date: 03/30/2022
Joseph Sanz from Orion Real Estate Group played a crucial role in facilitating the sale of this retail property. With the collaboration of buyer Maestra Dadeland, LLC and seller Limestone Asset Management, represented by Ibrahim Al-Rashid, the transaction was successfully completed. The property, with a sale price of $5,500,000 and a price per square foot of $277, offers a significant investment opportunity in Pinecrest's thriving market.
Players
Kendall 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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93