Longpoint Partners Acquires Industrial Asset In Miami For $30M With Broker Will Falero
SOLD
$30,000,000
Florida
See Similar DealsIndustrial756,738 SF
Sold 01/10/2024
SOLD
Longpoint Partners Acquires Industrial Asset In Miami For $30M With Broker Will Falero
8440 NW 64 St, 8450 Northwest 64th Street, 1900 Northwest 133rd Avenue, 2000 Northwest 133rd Avenue, 2090 Northwest 133rd Avenue & 8615 Northwest 64th Street
See Similar DealsIndustrial756,738 SF
Sold 01/10/2024
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$39
Total Square Footage:756,738 SF
Transaction Type:Sale
The industrial property located at 8440-8450 Northwest 64th Street, 1900, 2000, 2090 Northwest 133rd Avenue & 8615 Northwest 64th Street in Miami has been sold for a total of $30,000,000. The property has a size of 126,123 square feet and a price per square foot of $238.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $30,000,000
- Square Footage: 126,123
- Price per Square Foot: $238
- Address: 8440-8450 Northwest 64th Street, 1900, 2000, 2090 Northwest 133rd Avenue & 8615 Northwest 64th Street, Miami
- Market: Miami
The buyer of the property is Alex Sanchez, representing Longpoint Partners, and the transaction was facilitated by broker Will Falero.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66
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