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1140 Northwest 159th Drive

Mike Mordehai Acquires Industrial Properties In Miami Gardens For $11.8M
SOLDIndustrial

Mike Mordehai Acquires Industrial Properties In Miami Gardens For $11.8M

1140 Northwest 159th Drive & 1150 Northwest 159th Drive

$11,765,000

$128/SF

Building Size

91,240 SF

Asset Type

Industrial

Closing

Jan 26, 2024

AI

The industrial property located at 1140 Northwest 159th Drive and 1150 Northwest 159th Drive in Miami Gardens has been sold in a transaction. The property spans across 45,620 square feet with a sale price of $11,765,000, resulting in a price per square foot of $258.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $11,765,000
  • Market: Miami Gardens

The buyer in this transaction is Mike Mordehai, while the seller is Steve Tzvi. The deal was facilitated by Roberto Susi, Elad Barokas, and Jose Sasson Lerner from AXIOM Capital Advisors, who represented the buyer and seller as brokers.

For more information about off-market transactions or to reach out to the buyer's representatives, Elad Barokas can be contacted at 786-468-9489 or [email protected], Jose Sasson at 786-393-8089 or [email protected], and Roberto Susi at 305-528-3283 or [email protected].

Players

Jose Sasson Lerner

AXIOM Capital Advisors

Broker

$878.8M

vol

78 deals

Broker

Mike Mordehai

Buyer

$12.8M

vol

2 deals

Buyer

Miami Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.35%

Cash-on-Cash

-0.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93