Updated Jan 28, 2025
Midtown Capital Partners Acquires Industrial Asset In Miami Gardens For $21.5 Million
5220 Northwest 163rd Street
$21,500,000
$259/SF
Building Size
82,800 SF
Asset Type
Industrial
Closing
Jan 24, 2025
About this deal
AI
The industrial property located at 5220 Northwest 163rd Street in Miami Gardens has been sold for $21,500,000. The asset comprises a total of 82,800 square feet, translating to a price per square foot of $259.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $21,500,000
- Buyer: Midtown Capital Partners
- Seller: TA Realty
- Brokers: Zach Levine, Douglas Mandel & Joshua Gilbert - Marcus & Millichap
- Date of Transaction: 01/24/2025
The deal was facilitated by the brokerage team from Marcus & Millichap, representing both parties in the transaction. The brokers involved are Zach Levine, Douglas Mandel, and Joshua Gilbert.
On the Map
$21,500,000
$259/SF
Industrial
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Players
Miami Lakes 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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93