CenterPoint Properties Trust Acquires Industrial Property In Miami-Dade County For $29.5M
SOLD
$29,500,000
Florida
See Similar DealsIndustrial1,851,300 SF
Sold 03/24/2020
SOLD
CenterPoint Properties Trust Acquires Industrial Property In Miami-Dade County For $29.5M
3200 Northwest 67th Avenue, Miami, FL, USA
See Similar DealsIndustrial1,851,300 SF
Sold 03/24/2020
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$15
Total Square Footage:1,851,300 SF
Transaction Type:Sale
The industrial property located at 3200 Northwest 67th Avenue in Miami-Dade County has been sold for a price of $29,500,000. The property spans a total of 1,851,300 square feet, resulting in a price per square foot of $15. The sale was completed on March 24, 2020.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $29,500,000
- Address: 3200 Northwest 67th Avenue, Miami-Dade County
- Square Footage: 1,851,300
- Price per Square Foot: $15
- Buyer: CenterPoint Properties Trust - Bob Chapman
- Seller: FDG Hialeah (Florida East Coast Industries)
- Market: Miami-Dade County
- Image: Bob Chapman
- Date: March 24, 2020
Bob Chapman, representing CenterPoint Properties Trust, acted as the buyer in this transaction. The seller was FDG Hialeah, a subsidiary of Florida East Coast Industries.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,573,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$104,807.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$139,845.05
Annual Debt Service$1,678,140.60
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