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Dr. Barry Burak Acquires Industrial Property In Hialeah For $2.9M

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SOLD
$2,900,000

Florida

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Industrial15,812 SF
Sold 11/30/2021
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Property Image
SOLD

Dr. Barry Burak Acquires Industrial Property In Hialeah For $2.9M

990 West 23rd Street, Hialeah, FL, USA

See Similar Deals
Industrial15,812 SF
Sold 11/30/2021
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$183
Total Square Footage:15,812 SF
Transaction Type:Sale

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

Adam H. Klein
38 deals$129.8M volume(516) 445-3070
BROKER

Elon Gerberg
39 deals$144.2M volume(954) 299-9556
BROKER

Aldo Briolo
Cervera Real Estate
2 deals$3.6M volume
BROKER

Details

SOLD
IMAGE: Adam H. Klein & Elon Gerberg DATE: 11/30/2021 ADDRESS: 990 W 23rd St MARKET: Hialeah ASSET TYPE: Industrial BUYER: Dr. Barry Burak SELLER: Juan Morera BUYER'S REP: Aldo Briolo - Cervera Real Estate SELLER'S REP: Adam H. Klein (@AdamKlein54) & Elon Gerberg (@Edgofroi) - ROI Partners - SVN Commercial Partners ASKING PRICE: $2,600,000 SALE PRICE: $2,900,000 SF: 15,812 ~ PPSF: $183 NOTE FROM BROKERS: We generated 10+ competitive offers inside of 2 weeks and closed at a record price per square foot for the submarket. ROI (Retail, Office, Industrial) Partners are currently marketing $75MM of exclusive inventory for sale throughout South Florida.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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