Demetech Acquires Industrial Property In Miami Lakes For $15M
SOLD
$15,000,000
Florida
See Similar DealsIndustrial312,000 SF
Sold 11/09/2020
SOLD
Demetech Acquires Industrial Property In Miami Lakes For $15M
5980 Miami Lakes Drive, Miami Lakes, FL, USA & 5980 Miami Lakes Drive, Miami Lakes, FL, USA
See Similar DealsIndustrial312,000 SF
Sold 11/09/2020
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$48
Total Square Footage:312,000 SF
Transaction Type:Sale
A 156,000 square foot industrial property located at 5980 Miami Lakes Drive has been sold in Miami Lakes. The property was sold by Miami Lakes Drive and purchased by Demetech for a total price of $15,000,000, resulting in a price per square foot of $96.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $15,000,000
- Address: 5980 Miami Lakes Drive
- Market: Miami Lakes
The buyer's representative for Demetech in this transaction was Frank Trelles from State Street Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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