Gabriel Hernandez Acquires Industrial Property In Miami For $7M
SOLD
$7,000,000
Florida
See Similar DealsIndustrial30,011 SF
Sold 04/21/2023
SOLD
Gabriel Hernandez Acquires Industrial Property In Miami For $7M
900 SW 70th Ave
See Similar DealsIndustrial30,011 SF
Sold 04/21/2023
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$233
Total Square Footage:30,011 SF
Transaction Type:Sale
The industrial property located at 900 SW 70th Ave in Miami was recently sold for a price of $7,000,000. Spanning across 30,011 square feet, the property was purchased by Gabriel Hernandez from seller Raul Cossio. The transaction took place on April 21, 2023, with Eduardo "Eddie" Toledo & Jonathan De LaRosa from Marcus & Millichap, along with Lino Morejon from Mayfair Real Estate Advisors, acting as the brokers in the deal.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $7,000,000
- Date: 04/21/2023
- Address: 900 SW 70th Ave
- Market: Miami
- Buyer: Gabriel Hernandez
- Seller: Raul Cossio
- Brokers: Eduardo "Eddie" Toledo & Jonathan De LaRosa - Marcus & Millichap ; Lino Morejon - Mayfair Real Estate Advisors
- Square Footage: 30,011
- Price per Square Foot: $233
Eduardo "Eddie" Toledo & Jonathan De LaRosa, representing Marcus & Millichap, along with Lino Morejon from Mayfair Real Estate Advisors, played crucial roles in facilitating the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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