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1822 Northwest 22nd Street

Joe Ortega Purchases Industrial Property In Miami From Alirio Gutierrez For $1.48M
SOLDIndustrial

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:

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

Carlos Fausto Miranda

Fausto Commercial Realty Consultants

Broker

$239.3M

vol

54 deals

Broker

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