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6400 Northwest 77th Court

Julio Arriaga Purchases Retail Asset In Miami For $2.35M With Carlos & Jorge Sordo As Buyer's Representatives
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Julio Arriaga Purchases Retail Asset In Miami For $2.35M With Carlos & Jorge Sordo As Buyer's Representatives

6400 Northwest 77th Court

$2,350,000

$245/SF

Building Size

9,581 SF

Asset Type

Retail

Closing

Aug 1, 2024

AI

The property asset involved in this transaction is a retail space located at 6400 Northwest 77th Court, Miami. The sale was completed for a price of $2,350,000, encompassing a total area of 9,581 square feet, which translates to a price per square foot of $245.

Summary of transaction details:

Key individuals involved in the deal include Julio Arriaga as the buyer and Larry Cravez as the seller. The buyer was represented by Carlos and Jorge Sordo from RT Realty, while the seller was represented by Alan Kaye, Peter Berg, and Danny Reynoso from Transworld Commercial Real Estate.

Players

Alan Kaye

Transworld Commercial Real Estate

Broker

$52.2M

vol

13 deals

Broker

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

6.75%

Cash-on-Cash

-1.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93