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3691 Southwest 7th Street, ...

Chris Clementi Acquires Industrial Property In Coral Gables For $2M From Seller Shereen Appel
SOLDIndustrial

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

Jonathan De La Rosa

Marcus & Millichap

Broker

$659M

vol

145 deals

Broker

Chris Clementi

Buyer

$21.7M

vol

4 deals

Buyer

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