Juan Jose Zaragoza & Tomas Von Hartz Of Azora Exan Acquire Industrial Property In Miami For $9.1M
7400 Northwest 37th Avenue
$9,100,000
$83/SF
Building Size
109,000 SF
Asset Type
Industrial
Closing
Sep 12, 2024
AI
An industrial property located at 7400 Northwest 37th Avenue in Miami has been sold for $9,100,000. The asset spans 109,000 square feet, reflecting a price per square foot of $83. The property is noted for its prime location in Hialeah and is currently leased to RAM Steel Framing.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $9,100,000
- Buyer: Juan Jose Zaragoza & Tomas Von Hartz - Azora Exan
- Seller: Plage Associates LLC
- Brokers: Brian De La Fé, David Duckworth, John Crotty & Michael Fay - Avison Young
- Square Footage: 109,000
- Price Per Square Foot: $83
- Market: Miami
The transaction was facilitated by Avison Young, highlighting the continuous demand for industrial spaces in South Florida. The property was previously acquired by Plage Associates LLC for $7,500,000 in 2020, indicating a strong appreciation in value.
Players
Miami 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
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93