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297 Northeast 67th Street, ...

Diamond Realty Holdings Acquires Industrial Property In Little River For $7.8M
SOLDIndustrial

Diamond Realty Holdings Acquires Industrial Property In Little River For $7.8M

297 Northeast 67th Street, Miami, Florida 33138, United States

$7,821,000

$276/SF

Building Size

28,306 SF

Asset Type

Industrial

Closing

Jul 10, 2022

AI

A 28,306 square foot industrial property located at 287, 297 NE 67 Street & 290 NE 68 Street in the Little River market was recently sold for $7,821,000. The property, sold on 07/11/2022, was purchased by Diamond Realty Holdings, represented by Josh Diamond. The sellers, Steve Rhodes, George "Bud" Scholl, and Michael Steiner, were represented by Alfredo Riascos of Gridline Properties. The sale price equates to an average price per square foot of $276.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $7,821,000
  • Date: 07/11/2022
  • Address: 287, 297 NE 67 Street & 290 NE 68 Street
  • Market: Little River
  • Buyer: Diamond Realty Holdings - Josh Diamond
  • Seller: Steve Rhodes, George "Bud" Scholl & Michael Steiner
  • Buyer's Representative: Mateo Romero - Gridline Properties
  • Seller's Representative: Alfredo Riascos - Gridline Properties
  • Square Footage: 28,306
  • Price Per Square Foot: $276

Notable individuals involved in the transaction include Mateo Romero of Gridline Properties, who represented the buyer, Diamond Realty Holdings. Alfredo Riascos, also from Gridline Properties, represented the sellers, Steve Rhodes, George "Bud" Scholl, and Michael Steiner.

Players

Alfredo Riascos

Gridline Properties

Broker

$331.2M

vol

49 deals

Broker

Josh Diamond

Diamond Realty Holdings

Buyer

$12.1M

vol

2 deals

Buyer

Steve Rhodes

Seller

$7.8M

vol

2 deals

Seller

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

2.03%

Cash-on-Cash

-0.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93