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650 NE 185th St, Miami, FL ...

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

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

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

$13,250,000

$165/SF

Building Size

80,000 SF

Asset Type

Industrial

Closing

Jul 7, 2020

AI

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

Edward Redlich

Broker

$60.8M

vol

5 deals

Broker
Jake Zebede
Verified Badge

Jake Zebede

Trustone Realty Advisors

Broker

$333.7M

vol

16 deals

Broker
Ivy Realty
Ivy RealtyBrokerage

Anthony P DiTommaso Jr

Ivy Realty

Buyer

$74.3M

vol

3 deals

Buyer

Miami Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.20%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93