Midtown Capital Partners Acquires Industrial Asset In Miami Gardens For $21.5 Million
SOLD
$21,500,000
Florida
See Similar DealsIndustrial82,800 SF
Sold 01/24/2025
SOLD
Midtown Capital Partners Acquires Industrial Asset In Miami Gardens For $21.5 Million
5220 Northwest 163rd Street
See Similar DealsIndustrial82,800 SF
Sold 01/24/2025
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$259
Total Square Footage:82,800 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,146,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$76,384.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$101,920.97
Annual Debt Service$1,223,051.63
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