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1854 Nw 22 St

Joseph Delvecchio Purchases Industrial Property In Allapattah From Robert Martin For $2.26M
SOLDIndustrial

Joseph Delvecchio Purchases Industrial Property In Allapattah From Robert Martin For $2.26M

1854 Nw 22 St

$2,258,500

$278/SF

Building Size

8,100 SF

Asset Type

Industrial

Closing

Feb 26, 2025

AI

The asset involved in this transaction is an industrial property located at 1854 Northwest 22nd Street in the Allapattah market. The sale price for the property was $2,258,500, and it encompasses a total area of 8,100 square feet, resulting in a price per square foot of $278.

Summary of transaction details:

In this transaction, Joseph Delvecchio purchased the property from Robert Martin. The representatives involved were Jonathan Eismann of Gridline Properties, who acted on behalf of the buyer, and Carlos Fausto Miranda from Fausto Commercial Realty Consultants, representing the seller.

Players

Carlos Fausto Miranda

Fausto Commercial Realty Consultants

Broker

$239.3M

vol

54 deals

Broker

Robert Martin

Seller

$947.7M

vol

6 deals

Seller

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

7.02%

Cash-on-Cash

-2.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93