Joseph Ortega Acquires Industrial Property From Alirio Mendez And Jaime Arias For $1.5M
SOLD
$1,500,000
Florida
See Similar DealsIndustrial7,437 SF
Sold 10/15/2024
SOLD
Joseph Ortega Acquires Industrial Property From Alirio Mendez And Jaime Arias For $1.5M
1822 Northwest 22nd Street
See Similar DealsIndustrial7,437 SF
Sold 10/15/2024
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$201
Total Square Footage:7,437 SF
Transaction Type:Sale
The property asset involved in the transaction is an industrial space located at 1822 Northwest 22nd Street, Miami. The sale price of the asset was $1,500,000, with a total area of 7,437 square feet, resulting in a price per square foot of $201.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,500,000
- Address: 1822 Northwest 22nd Street
- Market: Miami
- Square Footage: 7,437
- Price Per Square Foot: $201
- Buyer: Joseph Ortega
- Seller: Alirio Mendez & Jaime Arias
- Buyer's Representative: Jonathan Eismann - Gridline Properties
- Seller's Representative: Carlos Fausto Miranda
The transaction featured key individuals including the buyer, Joseph Ortega, and the seller, Alirio Mendez & Jaime Arias. Jonathan Eismann of Gridline Properties represented the buyer, while Carlos Fausto Miranda represented the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18
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