Updated Oct 29, 2024
Core Palmetto Owner Acquires Industrial Assets In Miami Gardens For $33.6M
5905 NW 57th Ave, Miami Gardens, FL, USA
$33,600,000
$178/SF
Building Size
188,516 SF
Asset Type
Industrial
Closing
Mar 25, 2020
About this deal
AI
The transaction involves the sale of an industrial property located at 5905 NW 57th Ave, 16101 NW 57th Ave, 16341 NW 57th Ave, and 16301 NW 57th Ave in Miami Gardens. The property spans a total area of 188,516 square feet. The market value of the property is valued at $33,600,000, with a price per square foot of $178.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $33,600,000
- Buyer: Core Palmetto Owner (Core Investment Properties Fund) - Adam Greenberg & Michael Lapointe; TRG SBV II Owner LLC
- Seller: Rand Real Estate Services - Jim Randel
- Date: 03/26/2020
The buyer in this transaction is Core Palmetto Owner (Core Investment Properties Fund), represented by Adam Greenberg & Michael Lapointe, as well as TRG SBV II Owner LLC. The seller is Rand Real Estate Services, with Jim Randel as the representative. No additional information is available regarding the deal.
Players
Virginia Gardens 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
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93