John Nakis Sells Retail Property At 3700 Northwest 42nd Avenue Miami Springs For $2.6M
SOLD
$2,600,000
Florida
See Similar DealsRetail3,316 SF
Sold 03/25/2025
SOLD
John Nakis Sells Retail Property At 3700 Northwest 42nd Avenue Miami Springs For $2.6M
3700 Northwest 42nd Avenue
See Similar DealsRetail3,316 SF
Sold 03/25/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$784
Total Square Footage:3,316 SF
Transaction Type:Sale
The asset involved in this transaction is a retail property located at 3700 Northwest 42nd Avenue in the Miami Springs market. It was sold for a price of $2,600,000, encompassing a total square footage of 3,316. The price per square foot for the transaction amounts to $784.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,600,000
- Square Footage: 3,316
- Price per Square Foot: $784
- Seller: John Nakis
- Brokers: Rayza Perez & George Belesis - DWNTWN Realty Advisors
- Date of Transaction: 03/25/2025
This transaction was facilitated by the brokerage team of Rayza Perez and George Belesis, representing the seller John Nakis. Their involvement highlights the professional support behind the successful completion of the retail property sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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