Chris Clementi Acquires Industrial Property In Coral Gables For $2M From Seller Shereen Appel
3691 Southwest 7th Street, Miami, Florida 33135, United States
$2,000,000
$235/SF
Building Size
8,500 SF
Asset Type
Industrial
Closing
Feb 13, 2022
AI
An industrial property located at 3691 SW 7th Street in Coral Gables has been sold for $2,000,000. The property spans over 8,500 square feet with a price per square foot of $235. The transaction took place on February 14, 2022. The buyers were represented by Chris Clementi, while the sellers were represented by Shereen Appel. The brokers involved in the deal were Eddie Toledo and Jonathan De La Rosa from Marcus & Millichap.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,000,000
- Address: 3691 SW 7th Street
- Market: Coral Gables
- Square Footage: 8,500
- Price Per Square Foot: $235
It is worth mentioning that the financing for this transaction was provided by Francisco De Ona at Ocean Bank.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93