Loriel Beltran Acquires Industrial Property In Miami From Gus Fonte For $550,000
SOLD
$550,000
Florida
See Similar DealsIndustrial7,000 SF
Sold 02/23/2024
SOLD
Loriel Beltran Acquires Industrial Property In Miami From Gus Fonte For $550,000
1738 Northwest 21st Terrace
See Similar DealsIndustrial7,000 SF
Sold 02/23/2024
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$78
Total Square Footage:7,000 SF
Transaction Type:Sale
The industrial property located at 1738 Northwest 21st Terrace in Miami was sold in a transaction involving buyer Loriel Beltran and seller Gus Fonte. The deal was facilitated by brokers Chris Funk and Andy Charry from Metro 1 Commercial. The sale price for the 7,000 square foot property was $550,000, resulting in a price per square foot of $79.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $550,000
- Market: Miami
- Buyer: Loriel Beltran
- Seller: Gus Fonte
- Brokers: Chris Funk & Andy Charry - Metro 1 Commercial
- Address: 1738 Northwest 21st Terrace
- Square Footage: 7,000
- Price per Square Foot: $79
Chris Funk and Andy Charry from Metro 1 Commercial served as the brokers in this property sale, representing the buyer and seller respectively. The successful transaction highlights the collaborative efforts of these key individuals in the Miami industrial real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$29,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,954.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,607.28
Annual Debt Service$31,287.37
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