EQT Exeter Acquires 62,782 SF Industrial Property In Miami Dade For $11.2M
SOLD
$11,200,000
Florida
See Similar DealsIndustrial62,782 SF
Sold 01/10/2022
SOLD
EQT Exeter Acquires 62,782 SF Industrial Property In Miami Dade For $11.2M
3235 Northwest 62nd Street, Miami, Florida 33147, United States
See Similar DealsIndustrial62,782 SF
Sold 01/10/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$178
Total Square Footage:62,782 SF
Transaction Type:Sale
The industrial property located at 3235 NW 62nd Street in Miami Dade has been sold in a recent transaction. Spanning across 2.25 acres, the property offers ample space for various industrial purposes. The sale took place on the 1st of October, 2022, and the buyer was EQT Exeter, represented by Edward (Ward) Fitzgerald. The seller was Crown Linen LLC. The sale price for the property was $11,200,000. With a total area of 62,782 square feet, the price per square foot equated to $178.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $11,200,000
- Acres: 2.25
EQT Exeter, represented by Edward (Ward) Fitzgerald, made this significant acquisition for industrial purposes. This transaction showcases their commitment to expanding their presence in Miami Dade's industrial market. Crown Linen LLC, the seller in this deal, successfully completed the transfer of this industrial asset to EQT Exeter.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$597,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,791.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,093.71
Annual Debt Service$637,124.57
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