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
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