Faropoint Ventures Acquires Industrial Property In Miami For $6.3M
SOLD
$6,300,000
Florida
See Similar DealsIndustrial32,744 SF
Sold 06/30/2022
SOLD
Faropoint Ventures Acquires Industrial Property In Miami For $6.3M
3330 NW 60th St, Miami, FL 33142
See Similar DealsIndustrial32,744 SF
Sold 06/30/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$192
Total Square Footage:32,744 SF
Transaction Type:Sale
An industrial property located at 3330 NW 60th St in Miami has been sold for $6,300,000. The property spans over 32,744 square feet, resulting in a price per square foot of $192. The transaction took place on June 30, 2022. The buyer of the property is Faropoint Ventures, while the seller is Garland.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $6,300,000
- Address: 3330 NW 60th St
- Market: Miami
The deal was facilitated by brokers Andrew Fernandez and Nicolas Palazzo of CBRE. They represented both the buyer, Faropoint Ventures, and the seller, Garland, in the transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$336,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57
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