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244 Northeast 62nd St, Miam...

Jordan Kavana Acquires Industrial Property In Magic City, Little Haiti For $4.9M
SOLDIndustrial

Jordan Kavana Acquires Industrial Property In Magic City, Little Haiti For $4.9M

244 Northeast 62nd St, Miami, FL 33138

$4,900,000

$524/SF

Building Size

9,337 SF

Asset Type

Industrial

Closing

Aug 29, 2023

AI

An industrial property located at 244 Northeast 62nd Street in the Magic City neighborhood of Little Haiti has been sold for a total price of $4,900,000. Spanning across 9,337 square feet, the property was acquired by Jordan Kavana.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $4,900,000
  • Square Footage: 9,337
  • Address: 244 Northeast 62nd Street, Magic City, Little Haiti
  • Market: Magic City, Little Haiti

Liana Rivera represented the buyer, Jordan Kavana, while Irene Dakota, from Gridline Properties, acted as the seller's representative for Tyrrell Properties - Gabriele Pedone and Delfim Srl.

Players

Irene Dakota

Metro 1 Commercial

Broker

$19.3M

vol

5 deals

Broker

Jordan Kavana

Transcendent Investment Management

Buyer

$86.5M

vol

3 deals

Buyer

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

3.24%

Cash-on-Cash

-0.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93