Steve Safran Acquires Retail Property From Marcos Puente In Miami For $2.575M
10905 Southwest 40th Street
2,132 SF
Summary
The retail property located at 10905 Southwest 40th Street in Miami was recently sold for $2,575,000. The total square footage of the property is 2,132, translating to a price per square foot of $1,208. The seller, Marcos Puente of MMG Equity Partners, successfully closed the deal with the buyer, Steve Safran. Lori Schneider from Marcus & Millichap represented the seller in this transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,575,000
- Address: 10905 Southwest 40th Street
- Market: Miami
- Square Footage: 2,132
- Buyer: Steve Safran
- Seller: Marcos Puente - MMG Equity Partners
- Broker: Lori Schneider - Marcus & Millichap
The sale involved a Taco Bell ground leased outparcel from MMG Equity Partners' Westlake shopping center. The base rent for this property was $114,875, resulting in a cap rate of 4.46%. This transaction demonstrates the successful negotiation and transfer of a valuable retail asset in the Miami market.
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