Jeffrey Miller (Jeffmillergroup) Acquires Single Family Residence In Miami Beach For $7.5M
SOLD
$7,500,000
Florida
See Similar DealsSingle Family Residence5,642 SF
Sold 03/15/2023
SOLD
Jeffrey Miller (Jeffmillergroup) Acquires Single Family Residence In Miami Beach For $7.5M
420 North Hibiscus Drive
See Similar DealsSingle Family Residence5,642 SF
Sold 03/15/2023
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,329
Total Square Footage:5,642 SF
Transaction Type:Sale
The property asset involved in this transaction is a Single Family Residence located at 420 North Hibiscus Drive in Miami Beach. The sale price was $7,500,000, encompassing a total square footage of 5,642. The price per square foot for this property amounts to $1,329.
Summary of transaction details:
- Property Type: Single Family Residence
- Transaction Amount: $7,500,000
- Address: 420 North Hibiscus Drive
- Market: Miami Beach
- Square Footage: 5,642
- Price Per Square Foot: $1,329
Jeffrey Miller from Jeffmillergroup represented the buyer in this transaction, partnering with Sotheby's International Realty. The details of the buyer and seller have not been disclosed.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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