Chris Clementi Acquires Industrial Property In Coral Gables For $2M From Seller Shereen Appel
SOLD
$2,000,000
Florida
See Similar DealsIndustrial8,500 SF
Sold 02/14/2022
SOLD
Chris Clementi Acquires Industrial Property In Coral Gables For $2M From Seller Shereen Appel
3691 Southwest 7th Street, Miami, Florida 33135, United States
See Similar DealsIndustrial8,500 SF
Sold 02/14/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$235
Total Square Footage:8,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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