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1724-40 Northwest 22nd Stre...

Rene Vivo Acquires Industrial Property In Allapattah For $1.245M
SOLDIndustrial

Rene Vivo Acquires Industrial Property In Allapattah For $1.245M

1724-40 Northwest 22nd Street, Allapattah, Miami, FL, USA

$1,245,000

$59/SF

Building Size

21,000 SF

Asset Type

Industrial

Closing

Oct 15, 2021

AI

Rene Vivo has purchased an industrial property in Allapattah, located at 1724-40 NW 22 Street. The property spans 21,000 square feet, with a lot size of 21,000 square feet. The transaction was facilitated by broker Jonathan Eismann from Gridline Properties. The property was sold by Roland DiGasbarro for a sale price of $1,245,000, exceeding the asking price of $1,195,000. The price per square foot (PPLSF) was calculated to be $59.

Summary of transaction details

This transaction showcases Rene Vivo's investment in an industrial property in Allapattah. Jonathan Eismann, representing Gridline Properties, successfully facilitated the deal between Vivo and the seller, Roland DiGasbarro.

Players

Jonathan Eismann

Gridline Properties

Broker

$104.2M

vol

38 deals

Broker
Roland DiGasbarro

Roland DiGasbarro

Windsor Investments

Seller

$87.3M

vol

5 deals

Seller

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

12.74%

Cash-on-Cash

-3.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93