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Maestra Dadeland, LLC Acquires Retail Property In Pinecrest For $5.5M

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SOLD
$5,500,000

Florida

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Retail2,193 SF
Sold 03/30/2022
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Property Image
SOLD

Maestra Dadeland, LLC Acquires Retail Property In Pinecrest For $5.5M

9690 South Dixie Highway, Miami, Florida 33156, United States

See Similar Deals
Retail2,193 SF
Sold 03/30/2022
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$2,508
Total Square Footage:2,193 SF
Transaction Type:Sale

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

6 deals$180.8M volume
BROKER

IA
4 deals$75.6M volume
SELLER

Details

SOLD
IMAGE: Joseph Sanz & Ibrahim Al-Rashid DATE: 03/30/2022 ADDRESS: 9690 S Dixie Hwy MARKET: Pinecrest ASSET TYPE: Retail BUYER: Maestra Dadeland, LLC SELLER: Limestone Asset Management - Ibrahim Al-Rashid BROKER: Joseph Sanz - Orion Real Estate Group SALE PRICE: $5,500,000 SF: 19,845 ~ PPSF: $277

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

$293,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67