Eugene Profis Of Terrior Wine Club Acquires Retail Property On Collins Avenue For $5.7M
SOLD
$5,700,000
Florida
See Similar DealsRetail9,500 SF
Sold
SOLD
Eugene Profis Of Terrior Wine Club Acquires Retail Property On Collins Avenue For $5.7M
614 Collins Avenue
See Similar DealsRetail9,500 SF
Sold
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$600
Total Square Footage:9500 SF
Transaction Type:Sale
The asset involved in this transaction is a retail property located at 614 Collins Avenue in Miami Beach. The sale was completed for a total amount of $5,700,000. The property encompasses a total of 9,500 square feet, resulting in a price per square foot of $600.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $5,700,000
- Address: 614 Collins Avenue
- Market: Miami Beach
- Square Footage: 9,500
- Price per Square Foot: $600
- Buyer: Eugene Profis - Terrior Wine Club
- Seller: Ocean Bank
- Brokers: Jordan Gimelstein, David Spitz & Jared Robins - Inhouse Commercial
The transaction features notable individuals and companies, with Eugene Profis representing Terrior Wine Club as the buyer. Ocean Bank was the seller in this transaction. The brokerage team included Jordan Gimelstein, David Spitz, and Jared Robins from Inhouse Commercial, who facilitated the deal for both parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$304,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90
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