UOVO Acquires Storage Facility In Miami For $50M
SOLD
$50,000,000
Florida
See Similar Deals85,000 SF
Sold 04/28/2021
SOLD
UOVO Acquires Storage Facility In Miami For $50M
346 NW 29th St, Miami, FL, USA
See Similar Deals85,000 SF
Sold 04/28/2021
Summary
FLORIDA
Price Per Square Foot:$588
Total Square Footage:85,000 SF
Transaction Type:Sale
A storage facility located at 346 NW 29th St in Miami has been sold for a price of $50,000,000. The property spans 85,000 square feet, resulting in a price per square foot of $588.
Summary of transaction details
- Property Type: Storage Facility
- Transaction Amount: $50,000,000
- Address: 346 NW 29th St
- Market: Miami
- Square Footage: 85,000
- Price Per Square Foot: $588
The buyer of the storage facility is UOVO represented by Steven Guttman & Steve Novenstein.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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