John Ramsey Sells Industrial Cold Storage In Miami For $29.2M With George Smith & Julio Navarro As Brokers
3500 Northwest 24th Street
$29,240,000
$138/SF
Building Size
211,000 SF
Asset Type
Industrial
Closing
Oct 19, 2023
AI
The industrial cold storage property located at 3500 Northwest 24th Street in Miami has been sold. The property, spanning 211,000 square feet, was sold by John Ramsey. The transaction was facilitated by George Smith and Julio Navarro of Smith Commercial Property Group, who served as the brokers in this deal. The sale price for the property amounted to $29,240,000, resulting in a price per square foot of $139.
Summary of Transaction Details
- Property Type: Industrial Cold Storage
- Transaction Amount: $29,240,000
- Square Footage: 211,000
- Price per Square Foot: $139
- Address: 3500 Northwest 24th Street, Miami
- Seller: John Ramsey
- Brokers: George Smith and Julio Navarro - Smith Commercial Property Group
Smith Commercial Property Group specializes in sourcing off-market industrial dry and cold storage properties. If you are considering disposing of your industrial or cold storage property or would like to know its value, you can reach out to George at [email protected].
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
0.54%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93