USA Express Inc. Acquires Retail Asset From Spencer Friedman For $8 Million In Miami
SOLD
$8,000,000
Florida
See Similar DealsRetail45,738 SF
Sold 10/31/2024
SOLD
USA Express Inc. Acquires Retail Asset From Spencer Friedman For $8 Million In Miami
13199 Southwest 112th Street
See Similar DealsRetail45,738 SF
Sold 10/31/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$174
Total Square Footage:45,738 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 13199 Southwest 112th Street in the Miami market, which encompasses a total square footage of 45,738. The transaction was completed at a sale price of $8,000,000, resulting in a price per square foot of $174.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,000,000
- Buyer: USA Express, Inc.
- Seller: Spencer Friedman - CF Properties
- Broker: Billy Weiser - Colliers
The deal was facilitated by Billy Weiser, who represented Spencer Friedman in the transaction. The involvement of Colliers signifies a collaboration between the brokerage and the seller to complete the sale effectively within the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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