Highway Capital Affiliate Acquires Industrial Asset In North Miami Beach For $10.2M
SOLD
$10,200,000
Florida
See Similar DealsIndustrial50,744 SF
Sold 06/28/2022
SOLD
Highway Capital Affiliate Acquires Industrial Asset In North Miami Beach For $10.2M
330 Northwest 171st Street, Miami, Florida 33169, United States
See Similar DealsIndustrial50,744 SF
Sold 06/28/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$201
Total Square Footage:50,744 SF
Transaction Type:Sale
Four industrial properties in North Miami Beach were recently sold for a total of $10,200,000. The properties, located at 330 NW 171 St, 384 NW 171 St, 375 NW 170 St, and 355 NW 170 St, have a combined square footage of 50,744. The sale price translates to approximately $201 per square foot.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $10,200,000
- Address: 330 NW 171 St, 384 NW 171 St, 375 NW 170 St & 355 NW 170 St, North Miami Beach
- Market: North Miami Beach
The buyer, Highway Capital, an affiliate of Triarch Capital Group, was represented by Jose Sasson from Axiom Capital Advisors. The seller, Christopher Savits, was represented by Andrew Nabutovskiy from Sir Realty. For any future off-market transactions, interested parties can contact Jose Sasson at 786-393-8089 or [email protected].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$544,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,238.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,353.20
Annual Debt Service$580,238.45
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