Miami Industrial Property Sold For $8.3M By Miami River Industrial Center, LLC
SOLD
$8,300,000
Florida
See Similar DealsIndustrial19,548 SF
Sold 10/04/2022
SOLD
Miami Industrial Property Sold For $8.3M By Miami River Industrial Center, LLC
3611 Northwest South River Drive, Miami, Florida 33142, United States
See Similar DealsIndustrial19,548 SF
Sold 10/04/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$424
Total Square Footage:19,548 SF
Transaction Type:Sale
The industrial property located at 3611 NW South River Drive in Miami has been sold in a closed transaction. The property spans 19,548 square feet and is situated in the Miami market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $8,300,000
- Address: 3611 NW South River Drive
- Market: Miami
The buyer of the property is Miami River Industrial Center, LLC. The deal was facilitated by Alex D. Zylberglait and Michael Crocchiola, who represented the buyer as brokers from Marcus & Millichap. The sale price for the property was $8,300,000, resulting in a price per square foot of $425.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$442,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,488.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,346.23
Annual Debt Service$472,154.81
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