Hermes Trust Acquires $16M Single Family Property In Miami Beach
SOLD
$16,000,000
Florida
See Similar DealsSingle Family Residence11,265 SF
Sold 07/20/2021
SOLD
Hermes Trust Acquires $16M Single Family Property In Miami Beach
6585 Allison Rd, Miami Beach, FL, USA
See Similar DealsSingle Family Residence11,265 SF
Sold 07/20/2021
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,420
Total Square Footage:11,265 SF
Transaction Type:Sale
The single-family property located at 6585 Allison Rd in Miami Beach has been sold in a recent transaction. The property spans an area of 11,265 square feet and was sold for a price of $16,000,000, resulting in a price per square foot of $1,420.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $16,000,000
- Address: 6585 Allison Rd, Miami Beach
- Market: Miami Beach
- Buyer: Hermes Trust Company LLC Trs; Ndop Trust
- Seller: Rafael Cedeno Camacho
The buyer in this transaction is represented by Hermes Trust Company LLC Trs and Ndop Trust. On the other hand, Rafael Cedeno Camacho acted as the seller's representative.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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