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Slate Asset Management Acquires Retail Property In Miramar For $18.75M

Property Image
SOLD
$18,750,000
David Lukes
BW

Florida

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Retail96,649 SF
Sold 08/09/2022
the dealplayerscompscontact
Property Image
SOLD

Slate Asset Management Acquires Retail Property In Miramar For $18.75M

9907 Miramar Parkway, Miramar, Florida 33023, United States

See Similar Deals
Retail96,649 SF
Sold 08/09/2022
David Lukes
BW
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$194
Total Square Footage:96,649 SF
Transaction Type:Sale

The retail property located at 9907 Miramar Parkway in Miramar has been sold in a recent transaction. The property spans over 8.6 acres and is situated in the Miramar market.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $18,750,000
  • Address: 9907 Miramar Parkway
  • Market: Miramar
  • Size: 96,649 square feet
  • Price per square foot: $194

The buyer of the property is Slate Asset Management, represented by Blair Welch and Brady Welch. On the other hand, the seller of the property is Site Centers Corp., with David Lukes as their representative in the transaction.

Players

BW
Brady Welch
3 deals$52.9M volume
BUYER

Details

SOLD
IMAGE: Blair Welch & Brady Welch DATE: 08/09/2022 ADDRESS: 9907 Miramar Parkway MARKET: Miramar ASSET TYPE: Retail ~ ACRES: 8.6 BUYER: Slate Asset Management (@SlateAssetMgmt) - Blair Welch & Brady Welch SELLER: Site Centers Corp. - David Lukes SALE PRICE: $18,750,000 SF: 96,649 ~ PPSF: $194

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

$1,000,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$66,614.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$88,884.57
Annual Debt Service$1,066,614.79