North Miami Beach, FL, 163 ST Plaza
Miami, FL – 2/6/2017 – Otto Travieso of Real Capital Partners LLC announces the sale of North Miami Beach, FL, 163 ST Plaza. The center is approximately 50,000 sf, single story, retail property located in North Miami Beach, FL. The property sold for $8,125,000.00. The center currently has national name tenants including Humana/CAC, Planet Fitness, and Vision Works. “The timing was ideal for both buyer and seller, allowing for a sale at a 5.8% CAP with only 70% occupancy. The buyer was looking for a long-term play, and the seller met projected returns,” says Otto Travieso. Otto Travieso of Real Capital Partners LLC worked with Sea Grove Realty of Miami to secure the sale.
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