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My Storage Bin Acquires Industrial Property In Miami For $6.05M

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SOLD
$6,054,800

Florida

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Industrial52,372 SF
Sold
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Property Image
SOLD

My Storage Bin Acquires Industrial Property In Miami For $6.05M

5713 Northwest 27th Avenue, Miami, FL, USA

See Similar Deals
Industrial52,372 SF
Sold
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$115
Total Square Footage:52372 SF
Transaction Type:Sale

Located at 5713 Northwest 27th Avenue in Miami, this industrial property was recently sold in a closed transaction. The property spans over 52,372 square feet and is owned by Tuck it Away Birdgeport. The buyer, My Storage Bin, acquired the property for a sale price of $6,054,800. The transaction was facilitated by Donald Shapiro of Compass.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $6,054,800
  • Address: 5713 Northwest 27th Avenue
  • Market: Miami

Donald Shapiro, representing Compass, played a pivotal role in the successful completion of this deal between My Storage Bin and Tuck it Away Birdgeport. The sale price of $6,054,800 reflects a price per square foot (PPSF) of $116. This transaction highlights the active industrial market in Miami and the ongoing demand for storage facilities.

Players

Donald Shapiro
10 deals$58.8M volume
BROKER

Details

SOLD
IMAGE: Donald Shapiro DATE: 12/28/2020 ADDRESS: 5713 Northwest 27th Avenue MARKET: Miami ASSET TYPE: Industrial BUYER: My storage Bin SELLER: Tuck it Away Birdgeport BROKER: Donald Shapiro - Compass ASKING PRICE: $6,250,000 SALE PRICE: $6,054,800 SF: 52,372 ~ PPSF: $116

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

$322,922.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,511.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,702.84
Annual Debt Service$344,434.09