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Ivy Realty Acquires Industrial Property In Miami-Dade County For $13.25M

Property Image
SOLD
$13,250,000
Michael Weihl
Larry Genet
+ 3

Florida

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Industrial80,000 SF
Sold 07/08/2020
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Property Image
SOLD

Ivy Realty Acquires Industrial Property In Miami-Dade County For $13.25M

650 NE 185th St, Miami, FL 33179, USA

See Similar Deals
Industrial80,000 SF
Sold 07/08/2020
Michael Weihl
Larry Genet
+ 3
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$165
Total Square Footage:80,000 SF
Transaction Type:Sale

Located in Miami-Dade County, the industrial property at 650 Northeast 185th Street has been sold in a recent closed transaction. The sale was finalized on 07/08/2020, with a sale price of $13,250,000. The property spans over 80,000 square feet, resulting in a price per square foot of $165.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $13,250,000
  • Address: 650 Northeast 185th Street
  • Market: Miami-Dade County
  • Square Footage: 80,000
  • Price per Square Foot: $165

Ivy Realty, represented by Anthony P. DiTommaso Jr., acted as the buyer in this transaction. On the other hand, Clement Zanzuri's Best Freezer Holdings LLC was the seller. The deal was facilitated by brokers Larry Genet, Jake Zebede, Tom O'Loughlin, Edward Redlich, and Michael Weihl. Additional information regarding financing or any other notable details is not available at this time.

Players

5 deals$60.8M volume(786) 433-2379
BROKER


Michael Weihl
1 deal$13.3M volume(786) 395-3862
BROKER

Jake Zebede
Trustone Realty Advisors
16 deals$333.7M volume
BROKER

Tom O'Loughlin
CBRE
56 deals$831.7M volume(954) 817-3919
BROKER

Ivy Realty
BROKERAGE

Details

SOLD
IMAGE: IMAGE: Anthony P. DiTommaso Jr., Jake Zebede, Tom O’Loughlin, Larry Genet, Edward Redlich & Michael Weihl DATE: 07/08/2020 ADDRESS: 650 Northeast 185th Street MARKET: Miami-Dade County ASSET TYPE: Industrial PRICE: $13,250,000 SF: 80,000 PPSF: $165 BUYER: Ivy Realty – Anthony P. DiTommaso Jr. SELLER: Best Freezer Holdings LLC – Clement Zanzuri BROKERS: Larry Genet, […]

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

$706,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$47,074.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,811.76
Annual Debt Service$753,741.12