CP Logistics Miami 95 LLC Acquires Industrial Property In Miami Dade From New Dairy Florida LLC For $21.75M
SOLD
$21,750,000
Florida
See Similar DealsIndustrial84,985 SF
Sold 04/05/2022
SOLD
CP Logistics Miami 95 LLC Acquires Industrial Property In Miami Dade From New Dairy Florida LLC For $21.75M
501 Northeast 181st Street, North Miami Beach, Florida 33162, United States
See Similar DealsIndustrial84,985 SF
Sold 04/05/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$255
Total Square Footage:84,985 SF
Transaction Type:Sale
A property located at 501 NE 181 Street in Miami Dade has been sold in a recent transaction. The industrial property spans approximately 9.4 acres and is part of the Miami Dade market. The sale took place on April 5th, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $21,750,000
- Address: 501 NE 181 Street
- Market: Miami Dade
- Acres: 9.4
The buyer of the property is CP Logistics Miami 95 LLC, represented by Panattoni Development Co. and Adon Panattoni. On the other hand, the seller is New Dairy Florida LLC, represented by Capital Peak Partners.
The property has a total area of 84,985 square feet and was sold at a price of $256 per square foot.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,159,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$77,273.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$103,106.10
Annual Debt Service$1,237,273.16
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