Updated Dec 20, 2023
Terryl Zerby & John Michael Cornell Acquire Industrial & Commercial Property In Miami For $3.39M
555 NW S River Dr, Miami, FL, USA
$3,392,805
$162/SF
Building Size
20,928 SF
Asset Type
Industrial
Closing
Sep 21, 2021
About this deal
AI
The property involved in the transaction is an industrial and commercial asset located at 517 & 555 NW South River Dr in Miami. The property spans a total of 20,928 square feet and was sold for a price of $3,392,805, resulting in a price per square foot of $162.
Summary of transaction details:
- Property Type: Industrial & Commercial
- Transaction Amount: $3,392,805
- Square Footage: 20,928
- Price per Square Foot: $162
- Address: 517 & 555 NW South River Dr, Miami
- Buyer: Terryl Zerby & John Michael Cornell
- Seller: Joseph Del Vecchio
The buyer of the property is represented by Terryl Zerby & John Michael Cornell. The seller in this transaction is Joseph Del Vecchio.
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
4.68%
Cash-on-Cash
-1.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93