Loriel Beltran Acquires Industrial Property In Miami From Gus Fonte For $550,000
1738 Northwest 21st Terrace
$550,000
$78/SF
Building Size
7,000 SF
Asset Type
Industrial
Closing
Feb 23, 2024
AI
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.
Players
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
28.84%
Cash-on-Cash
-8.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93