Updated Sep 9, 2024
Nochum Mendelsohn & Joshua Kigler Acquire Industrial Property In Allapattah For $2M
2081 Northwest 7th Avenue
$2,000,000
$176/SF
Building Size
11,350 SF
Asset Type
Industrial
Closing
Sep 12, 2022
About this deal
AI
The industrial property located at 2081 NW 7th Avenue in Allapattah has been sold. The transaction closed on September 12, 2022, at a sale price of $2,000,000. The property spans across 11,350 square feet, resulting in a price per square foot of $176.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,000,000
- Address: 2081 NW 7th Avenue
- Market: Allapattah
The buyer, Nochum Mendelsohn & Joshua Kigler, acquired the property from the seller, Kevin Aoki. The buyer was represented by Karen Alvarez PA from Metro 1 Properties. On the other hand, Jonathan Eismann PA from Gridline Properties represented the seller.
This property transaction involved both the buyer and seller being owner-users, which has emerged as a popular niche market. The deal was funded by SBA 504. It's worth noting that the property went under contract in February 2021 and experienced an extended closing period, resulting in this timeline reflective pricing.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93