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3500 Northwest 24th Street

John Ramsey Sells Industrial Cold Storage In Miami For $29.2M With George Smith & Julio Navarro As Brokers
SOLDIndustrial

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

George Smith

Smith Commercial Property Group

Broker

$159.2M

vol

18 deals

Broker

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