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Forte Capital Management Sells Industrial Property In Hialeah For $6.5M With CBRE

Property Image
SOLD
$6,530,540
Tom O'Loughlin
Larry Genet
Jake Zebede

Florida

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Industrial60,000 SF
Sold 05/20/2021
the dealplayerscompscontact
Property Image
SOLD

Forte Capital Management Sells Industrial Property In Hialeah For $6.5M With CBRE

6721 Northwest 36th Avenue, Hialeah, FL, USA

See Similar Deals
Industrial60,000 SF
Sold 05/20/2021
Tom O'Loughlin
Larry Genet
Jake Zebede
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$108
Total Square Footage:60,000 SF
Transaction Type:Sale

Located at 6721 NW 36th Avenue in Hialeah, this industrial property was recently sold in a closed transaction. The property spans across 60,000 square feet, with a sale price of $6,530,540, resulting in a price per square foot of $109. Sitting on 2.62 acres, the price per acre for this property amounts to $2,492,573. Forte Capital Management served as the seller in this transaction.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $6,530,540
  • Address: 6721 NW 36th Avenue
  • Market: Hialeah

The transaction was facilitated by CBRE, with Larry Genet, Tom O’Loughlin, and Jake Zebede representing them as brokers on behalf of the seller, Forte Capital Management. Together, they successfully closed this industrial deal in Hialeah, showcasing their expertise and negotiation skills.

Players

Larry Genet
CBRE
Larry Genet
57 deals$436M volume(305) 807-0004
BROKER
Jake Zebede
Trustone Realty Advisors
Jake Zebede
16 deals$333.7M volume
BROKER
Tom O'Loughlin
CBRE
Tom O'Loughlin
56 deals$831.7M volume(954) 817-3919
BROKER
FM
Forte Capital Management
SELLER

Details

SOLD
IMAGE: Tom O’Loughlin, Jake Zebede & Larry Genet DATE: 05/20/2021 ADDRESS: 6721 NW 36th Avenue MARKET: Hialeah ASSET TYPE: Industrial SELLER: Forte Capital Management BROKERS: Larry Genet, Tom O’Loughlin & Jake Zebede - CBRE SALE PRICE: $6,530,540 SF: 60,000 ~ PPSF: $109 ACRES: 2.62 ~ PPA: $2,492,573

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$348,295.46

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,201.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,958.09
Annual Debt Service$371,497.10