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9300 Northwest 13th Street,...

CIT Bank Provides $14.1M Loan For Industrial Property In Miami
FINANCEDIndustrial

CIT Bank Provides $14.1M Loan For Industrial Property In Miami

9300 Northwest 13th Street, Doral, FL 33172, USA

$14,100,000

$97/SF

Building Size

145,331 SF

Asset Type

Industrial

Closing

Jul 6, 2020

AI

An industrial property located at 9300 NW 13th St. in Miami has been involved in a closed transaction. The property spans 145,331 square feet and sits on 8.3 acres of land.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $14,100,000
  • Address: 9300 NW 13th St.
  • Market: Miami
  • Square Footage: 145,331
  • Acres: 8.3

The lender involved in this transaction is CIT Bank. The seller of the property is Ernesto Fabre of Fabre Design Group and Americas International Center. The deal was brokered by Michael Weinberg, Rebecca Van Reken, and Alec Fox of Berkadia.

Players

Michael Weinberg

Berkadia

Broker

$933.1M

vol

21 deals

Broker
CIT Bank
CIT BankLender

Doral Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.13%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93