Joe Ortega Purchases Industrial Property In Miami From Alirio Gutierrez For $1.48M
1822 Northwest 22nd Street
$1,477,705
$198/SF
Building Size
7,437 SF
Asset Type
Industrial
Closing
Dec 12, 2024
AI
The property involved in this transaction is an industrial asset located at 1822 Northwest 22nd Street in Miami. The sale was completed for a total price of $1,477,705, encompassing a square footage of 7,437 with a price per square foot of $198.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,477,705
- Square Footage: 7,437
- Price per Square Foot: $198
- Buyer: Joe Ortega
- Seller: Alirio Gutierrez
- Brokers: Carlos Fausto Miranda & Markos Bertolotti - Fausto Commercial Realty Consultants
- Transaction Date: 12/12/2024
This transaction involved the buyer, Joe Ortega, acquiring the property from seller Alirio Gutierrez with the assistance of brokers Carlos Fausto Miranda and Markos Bertolotti from Fausto Commercial Realty Consultants. The transaction highlights the collaboration between the brokers and the parties involved to facilitate the sale.
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
10.73%
Cash-on-Cash
-3.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93