Joseph Ortega Acquires Industrial Property From Alirio Mendez And Jaime Arias For $1.5M
1822 Northwest 22nd Street
$1,500,000
$201/SF
Building Size
7,437 SF
Asset Type
Industrial
Closing
Oct 15, 2024
AI
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.
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93