Updated Oct 28, 2024
Miami City Self Storage Acquires Industrial Property In Medley For $32.95M
8600 Northwest South River Drive, Medley, Florida 33166, United States
$32,950,000
$203/SF
Building Size
162,000 SF
Asset Type
Industrial
Closing
Jun 30, 2022
About this deal
AI
Located at 8600 NW South River Dr in Medley, this industrial property was recently sold in a transaction facilitated by Bryan Demello of Soflo Property Group LLC. The property spans over 162,000 square feet and was sold for a price of $32,950,000, resulting in a price per square foot of $203. The buyer in this transaction was Miami City Self Storage, while the seller was Megacenter.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $32,950,000
- Address: 8600 NW South River Dr, Medley
- Market: Medley
- Buyer: Miami City Self Storage
- Seller: Megacenter
- Seller's Representative: Bryan Demello - Soflo Property Group LLC
- Square Footage: 162,000
- Price per Square Foot: $203
This successful transaction highlights the strong industrial market in Medley. Bryan Demello of Soflo Property Group LLC played a pivotal role as the representative for the seller, Megacenter, ensuring a smooth process for all parties involved. Miami City Self Storage made a strategic investment in this industrial property, acquiring a significant asset to expand their portfolio.
On the Map
$32,950,000
$203/SF
Industrial
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Players
Medley 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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93