Miami Shopping Center Trades For $8.5 Million

Plaza 8 St. Neighborhood Shopping Center, located at 9600 SW 8th St. in Miami, has sold for $8,450,000.
Fabio Faerman of FA Commercial brokered the deal as a representative of the seller. In the midst of the process, the side lot had to be appraised in order to be part of the deal. The result of the appraisal brought the property value to the price proposed by FA Commercial.
The 55,814-square-foot plaza, built in 1988, is currently 96 percent leased to tenants including New Era Health Center and Pizza Hut. New Era Health Center is a provider of mental health services and Pizza Hut is a national tenant with over 6,000 restaurants in the United States.