Updated Oct 28, 2024
Studio Miami Partners Acquires Industrial Asset In Allapattah For $2.975M
2585 Northwest 21st Terrace, Miami, FL 33142
$2,975,000
$272/SF
Building Size
10,924 SF
Asset Type
Industrial
Closing
Dec 21, 2021
About this deal
AI
An off-market warehouse deal in Allapattah has been closed by Studio Miami Partners. The industrial property, located at 2585 NW 21st Ter, was sold for a price of $2,975,000. With a total area of 10,924 square feet, the property has a price per square foot of $272. The transaction took place on 12/21/2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,975,000
- Address: 2585 NW 21st Ter, Allapattah
- Market: Allapattah
The buyer of the property is Studio Miami Partners, represented by Allen West. The seller, on the other hand, is Holderman Holdings, with Meg Holderman serving as their representative. The deal was facilitated by Raul Pino from The Hype Real Estate Group.
The Hype Real Estate Group specializes in sourcing off-market deals, and this particular transaction is noteworthy due to their relationship with both the buyer and the seller. Additionally, the buyer is a partnership partly owned by a well-known celebrity, as mentioned by @TheHypeRealEstateGroup in a note accompanying the Instagram post.
Players
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
5.33%
Cash-on-Cash
-1.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93