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271 Northeast 69th Street

Rene Portieles Acquires Industrial Property In Little River For $2.5M
SOLDIndustrial

Rene Portieles Acquires Industrial Property In Little River For $2.5M

271 Northeast 69th Street

$2,500,000

$407/SF

Building Size

6,130 SF

Asset Type

Industrial

Closing

Apr 5, 2024

AI

Located at 271 Northeast 69th Street in Little River, the industrial property was sold for $2,500,000. Spanning 6,130 square feet, the transaction resulted in a price per square foot of $408.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: $2,500,000
  • Market: Little River
  • Buyer: Rene Portieles
  • Seller: Daniel Pena & Luis Eduardo Rojas
  • Buyer's Rep: Lauren Thomas - Touchstone Webb Realty Company
  • Seller's Rep: Mateo Romero - Gridline Properties

The deal was facilitated by Lauren Thomas from Touchstone Webb Realty Company, representing the buyer, Rene Portieles, while Mateo Romero from Gridline Properties represented the sellers, Daniel Pena & Luis Eduardo Rojas.

Players

Mateo Romero

Gridline Properties

Broker

$58.7M

vol

17 deals

Broker

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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93