Marcos Puente's MMG Flagler 12 Acquires Retail Property In Miami For $6.1M
SOLD
$6,100,000
Florida
See Similar DealsRetail11,775 SF
Sold 10/13/2023
SOLD
Marcos Puente's MMG Flagler 12 Acquires Retail Property In Miami For $6.1M
99 Southwest 12th Avenue
See Similar DealsRetail11,775 SF
Sold 10/13/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$518
Total Square Footage:11,775 SF
Transaction Type:Sale
The retail property located at 99 Southwest 12th Avenue in Miami has been sold for a price of $6,100,000. The property spans a total area of 11,775 square feet, resulting in a price per square foot of $518.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $6,100,000
- Square Footage: 11,775
- Price per Square Foot: $518
- Address: 99 Southwest 12th Avenue, Miami
The buyer in this transaction is Marcos Puente, representing MMG Flagler 12. On the other hand, the seller is composed of Michael Brock and Regions Bank. These key individuals and companies have successfully concluded the sale of the retail property in Miami.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$325,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,672.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,917.11
Annual Debt Service$347,005.34
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