Tuesday, July 14, 2015

Retail center in Miami sells for $1.15 Million; Bank-owned property features popular La Bamba Restaurant

  
 
Achikam Yogev
MIAMI, Fla. (July 14, 2015) – A retail center in a densely populated and industrial area of Miami has sold for $1.15 million.

 The 12,182-square-foot property, at 4401 SW 74th Ave., was in foreclosure and sold for below replacement value at $94 per square foot.

The seller, 4401 SW 74th Ave, LLC, was represented by Achikam Yogev, Senior Vice President with Colliers International South Florida based out of the company’s Miami office. The buyer, MST Corporation, was self-represented.

The retail center, located near the Palmetto Expressway on the corner of SW 74th Avenue and SW 42nd Street, is fully leased and includes the popular La Bamba Restaurant, a local check cashing company and an auto mechanic.

“With this retail center being fully leased and in a high-traffic area, it was a value purchase at below replacement value,” said Colliers’ Yogev. “In fact, we are still continuing to see REO properties on the market as more lenders are shedding their assets.”

The property was on the market for about a year and had environmental challenges that the buyer and seller were able to remedy.

For a complete copy of the company’s news release, please contact:

Leah Saunders 
Senior Account Executive
B2 Communications
p 727.895.5030 x104 | c 813.924.0367

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