16480 EMG Holdings Group LLC Acquires Industrial Property In Miami Gardens For $5.34M
16480 Northwest 48th Avenue, Miami Gardens, FL, USA & 16480 Northwest 48th Avenue, Miami Gardens, FL, USA
$5,340,000
$49/SF
Building Size
107,488 SF
Asset Type
Industrial
Closing
Nov 4, 2020
AI
A industrial property located at 16480 Northwest 48th Avenue in Miami Gardens has been sold for a price of $5,340,000. The property spans over 53,744 square feet, resulting in a price per square foot of $99. The transaction took place on November 5, 2020.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,340,000
- Address: 16480 Northwest 48th Avenue
- Market: Miami Gardens
The buyer, 16480 EMG Holdings Group LLC, acquired the property from the seller, Salcum Shutters Investments LLC. The deal was facilitated by Mike Waite and Jim Armstrong from Easton & Associates. Both Waite and Armstrong served as brokers representing the respective parties involved in the transaction.
Players
Miami Lakes 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
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93