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Masciave LLC Acquires Industrial Warehouse In Hialeah For $3.5 Million With Bank Of America Financing
SOLD
$3,500,000
Florida
See Similar DealsIndustrial16,170 SF
Sold 01/27/2025
SOLD
Masciave LLC Acquires Industrial Warehouse In Hialeah For $3.5 Million With Bank Of America Financing
690 West 20th Street
See Similar DealsIndustrial16,170 SF
Sold 01/27/2025
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$216
Total Square Footage:16,170 SF
Transaction Type:Sale
Masciave LLC acquired an industrial warehouse located at 690 West 20th Street in Hialeah for $3.5 million. The property spans 16,170 square feet and is situated on 0.61 acres. Built in 1962, it was previously owned by MBCK Warehouses LLC, and the price per square foot stands at $216.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,500,000
- Buyer: Masciave LLC
- Seller: MBCK Warehouses LLC
- Buyer's Representative: Larry Hernandez - ABL Commercial Realty
- Seller's Representative: Markos Bertolotti - Fausto Commercial Realty Consultants
- Square Footage: 16,170
- Price Per Square Foot: $216
- Financing: Bank of America
The transaction involved key representatives, with Larry Hernandez serving as the buyer's representative from ABL Commercial Realty and Markos Bertolotti representing the seller through Fausto Commercial Realty Consultants. The deal reflects active engagement in the industrial market within Hialeah.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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