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:
- Property Type: Retail
- Transaction Amount: $2,350,000
- Address: 6400 Northwest 77th Court
- Market: Miami
- Square Footage: 9,581
- Price Per Square Foot: $245
- Buyer: Julio Arriaga
- Seller: Larry Cravez
- Buyer's Representative: Carlos & Jorge Sordo - RT Realty
- Seller's Representatives: Alan Kaye, Peter Berg & Danny Reynoso - Transworld Commercial Real Estate
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
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