Exeter Property Group Acquires Industrial Asset In Miami Gardens For $13.45M
SOLD
$13,450,000
Florida
See Similar DealsIndustrial103,397 SF
Sold 04/30/2021
SOLD
Exeter Property Group Acquires Industrial Asset In Miami Gardens For $13.45M
16295 NW 52nd Ave, Miami Gardens, FL, USA
See Similar DealsIndustrial103,397 SF
Sold 04/30/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$130
Total Square Footage:103,397 SF
Transaction Type:Sale
Exeter Property Group, represented by Ward Fitzgerald, has acquired an industrial property in Miami Gardens. The property, located at 16295 NW 52nd Ave., was sold by K2 Aluminum LLC, represented by Manuel Kronfle. The transaction took place on April 30, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $13,450,000
- Square Footage: 103,397
- Price per Square Foot: $130
- Acres: 5.85
- Price per Acre: $2,299,145
Exeter Property Group, a real estate investment firm, made the acquisition with the guidance of Ward Fitzgerald as their representative. On the other side of the deal, K2 Aluminum LLC, a property company, had Manuel Kronfle as their representative. The industrial property, located in Miami Gardens, offers a total of 103,397 square feet of space and sits on 5.85 acres of land.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$717,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,785.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,759.86
Annual Debt Service$765,118.34
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