Joe Ortega Purchases Industrial Property In Miami From Alirio Gutierrez For $1.48M
SOLD
$1,477,705
Florida
See Similar DealsIndustrial7,437 SF
Sold 12/12/2024
SOLD
Joe Ortega Purchases Industrial Property In Miami From Alirio Gutierrez For $1.48M
1822 Northwest 22nd Street
See Similar DealsIndustrial7,437 SF
Sold 12/12/2024
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$198
Total Square Footage:7,437 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$78,810.92
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,249.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,005.08
Annual Debt Service$84,060.91
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