Updated Oct 29, 2024
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
$15,000,000
$48/SF
Building Size
156,000 SF
Asset Type
Industrial
Closing
Nov 8, 2020
About this deal
AI
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.
The industrial sale at 5980 Miami Lakes Drive, Miami Lakes, FL, USA in Miami Lakes, Florida sold for $15M in 2020. The building is 312,000 square feet, implying about 48 per square foot on the published price. Frank Trelles, State Street Realty appear on the sale alongside State Street Realty. This page is the Miami Lakes, Florida file for the 5980 Miami Lakes Drive, Miami Lakes, FL, USA industrial sold: pricing, party profiles, and other closed industrial comps from the same Miami Lakes sit in the Market section below. Filter that Miami Lakes industrial set by closing date to see what else sold near 5980 Miami Lakes Drive, Miami Lakes, FL, USA around 2020. Published consideration for 5980 Miami Lakes Drive, Miami Lakes, FL, USA is $15M, dated 2020. Cite this Demetech Acquires Industrial Property In Miami Lakes For $15M sale when underwriting similar industrial product around Miami Lakes, Florida.
On the Map
$15,000,000
$48/SF
Industrial
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Miami Lakes 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93