Marcos Puente's MMG Flagler 12 Acquires Retail Property In Miami For $6.1M
99 Southwest 12th Avenue
$6,100,000
$518/SF
Building Size
11,775 SF
Asset Type
Retail
Closing
Oct 13, 2023
AI
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
Miami 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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93