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Core Acquires Retail Property On Southwest Eighth Street In Miami For $19M

Property Image
SOLD
$19,000,000

Florida

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Retail60,692 SF
Sold 06/08/2020
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Property Image
SOLD

Core Acquires Retail Property On Southwest Eighth Street In Miami For $19M

9720 Southwest 8th Street, Miami, FL 33174

See Similar Deals
Retail60,692 SF
Sold 06/08/2020
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$313
Total Square Footage:60,692 SF
Transaction Type:Sale

The retail property located at 9720 Southwest Eighth Street in Miami has been sold in a transaction that took place on June 8, 2021. The property, covering an area of 60,692 square feet, was sold by the seller, Orion Real Estate Group, represented by Joseph Sanz. The buyer, Core, was represented by Adam Greenberg and Michael Lapointe. The sale price for the property was $19,000,000, resulting in a price per square foot of $313. The property sits on a 4.7-acre lot, with a price per acre of $4,042,553.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $19,000,000
  • Square Footage: 60,692
  • Address: 9720 Southwest Eighth Street, Miami
  • Market: Miami

The buyer of the property, Core, was represented by Adam Greenberg and Michael Lapointe. On the other hand, the seller, Orion Real Estate Group, was represented by Joseph Sanz. This transaction represents a significant deal in the retail market, further emphasizing the robust real estate activity in Miami.

Players

7 deals$131.4M volume
BUYER

Joseph Sanz
6 deals$180.8M volume
SELLER

Details

SOLD
IMAGE: Joseph A. Sanz, Adam Greenberg & Michael Lapointe DATE: 06/08/2021 ADDRESS: 9720 Southwest Eighth Street MARKET: Miami ASSET TYPE: Retail BUYER: Core - Adam Greenberg & Michael Lapointe SELLER: Orion Real Estate Group - Joseph Sanz SALE PRICE: $19,000,000 SF: 60,692 ~ PPSF: $313 ACRES: 4.7 ~ PPA: $4,042,553

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$67,502.99
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