Cove Marina Holding Acquires Industrial Property In Miami For $11M
SOLD
$11,000,000
Florida
See Similar DealsIndustrial2,778 SF
Sold 03/10/2021
SOLD
Cove Marina Holding Acquires Industrial Property In Miami For $11M
2000 Northwest North River Drive, Miami, FL, USA
See Similar DealsIndustrial2,778 SF
Sold 03/10/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$3,959
Total Square Footage:2,778 SF
Transaction Type:Sale
The industrial property located at 2000 NW North River Dr in Miami was recently sold in a transaction. The property spans a total area of 2,778 square feet and is situated on a 4-acre lot. The sale price for this transaction amounted to $11,000,000, resulting in a price per square foot of $3,960 and a price per acre of $2,750,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $11,000,000
- Address: 2000 NW North River Dr, Miami
- Market: Miami
Cove Marina Holding purchased the property from RCI Group - Robert Christoph Sr. The transaction took place on 03/10/2021. Robert Christoph Sr. represented RCI Group as the seller's representative in this deal.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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