Dr. Barry Burak Acquires Industrial Property In Hialeah For $2.9M
990 West 23rd Street, Hialeah, FL, USA
$2,900,000
$183/SF
Building Size
15,812 SF
Asset Type
Industrial
Closing
Nov 30, 2021
AI
990 W 23rd St in Hialeah has been sold in a recent industrial property transaction. The sale took place on November 30, 2021, and the property was purchased by Dr. Barry Burak. The seller of the property was Juan Morera.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $2,900,000
- Square Footage: 15,812
- Price per Square Foot: $183
- Market: Hialeah
Aldo Briolo from Cervera Real Estate represented Dr. Barry Burak as the buyer's representative. On the other side, Adam H. Klein and Elon Gerberg from ROI Partners - SVN Commercial Partners acted as the sellers' representatives.
The property at 990 W 23rd St generated significant interest in the market, receiving 10+ competitive offers within a span of 2 weeks. This high level of competition resulted in a record price per square foot for the submarket.
Aside from this transaction, ROI Partners is currently marketing $75MM of exclusive inventory for sale in various locations throughout South Florida.
Players
Hialeah Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93