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16725 Northwest 20th Avenue

Joseph Cohen Acquires Industrial Property In Miami Gardens For $6.85M
SOLDIndustrial

Joseph Cohen Acquires Industrial Property In Miami Gardens For $6.85M

16725 Northwest 20th Avenue

$6,850,000

$237/SF

Building Size

28,858 SF

Asset Type

Industrial

Closing

Sep 6, 2022

AI

The industrial property located at 16725 NW 20th Ave in Miami Gardens has been sold for a total price of $6,850,000. The property spans across 28,858 square feet, resulting in a price per square foot of $237.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $6,850,000
  • Square Footage: 28,858
  • Price Per Square Foot: $237
  • Market: Miami Gardens

The buyer of the property is Joseph Cohen, while the seller is Rogelio Tovar. The deal was facilitated by Benjamin H. Silver and Sebastian Misiewicz from CBRE, who acted as the brokers in the transaction.

Players

Benjamin Silver

CBRE

Broker

$255.5M

vol

36 deals

Broker

Joseph Cohen

Buyer

$23.3M

vol

8 deals

Buyer

Miami Gardens 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

2.32%

Cash-on-Cash

-0.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93