Arkadia Property Group Acquires Industrial Property In Miami For $5.3M
SOLD
$5,300,000
Florida
See Similar DealsIndustrial235,000 SF
Sold 10/29/2020
SOLD
Arkadia Property Group Acquires Industrial Property In Miami For $5.3M
1930 NW 23rd St, Miami, FL 33142, Estados Unidos
See Similar DealsIndustrial235,000 SF
Sold 10/29/2020
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$22
Total Square Footage:235,000 SF
Transaction Type:Sale
The industrial property located at 1930 Northwest 23rd Street in Miami has been sold in a closed transaction. The property spans across 23,500 square feet and was sold for a price of $5,300,000, resulting in a price per square foot of $226.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,300,000
- Address: 1930 Northwest 23rd Street, Miami
- Market: Miami
- Square Footage: 23,500
- Price per Square Foot: $226
The buyer of the property is Arkadia Property Group, represented by David Aaron. The seller is Shane Neman, who is affiliated with Neman Ventures. The transaction was facilitated by Larry Genet of CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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