Jin & Myung Moon Acquire Industrial Property In Miami For $3.4M
SOLD
$3,400,000
Florida
See Similar DealsIndustrial12,292 SF
Sold 05/19/2023
SOLD
Jin & Myung Moon Acquire Industrial Property In Miami For $3.4M
1501 Northwest 23rd Street
See Similar DealsIndustrial12,292 SF
Sold 05/19/2023
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$276
Total Square Footage:12,292 SF
Transaction Type:Sale
A industrial property located at 1501 Northwest 23rd Street in Miami has been sold for $3,400,000. The property spans across 13,138 square feet and is valued at $259 per square foot.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,400,000
- Address: 1501 Northwest 23rd Street, Miami
- Square Footage: 13,138
- Price Per Square Foot: $259
- Buyer: Jin & Myung Moon
- Seller: Keith Menin & Jared Galbut
- Seller's Representative: Jonathan Eismann - Gridline Properties
Jin & Myung Moon have acquired the industrial property located at 1501 Northwest 23rd Street in Miami. The sellers, Keith Menin and Jared Galbut, were represented by Jonathan Eismann of Gridline Properties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$181,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,117.73
Annual Debt Service$193,412.82
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