Cesar Cortes Purchases Industrial Asset From David Picciolo In Miami For $2.85M
2599 Northwest 37th Avenue
$2,850,000
$1,139/SF
Building Size
2,502 SF
Asset Type
Industrial
Closing
Sep 23, 2025
AI
The property asset involved in this transaction is an industrial space located at 2599 Northwest 37th Avenue, Miami. The sale price for this asset was $2,850,000, encompassing a total area of 2,502 square feet, which reflects a price per square foot of $1,139.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,850,000
- Address: 2599 Northwest 37th Avenue
- Market: Miami
- Square Footage: 2,502
- Price Per Square Foot: $1,139
- Buyer: Cesar Cortes
- Seller: David Picciolo
- Brokers: Marcos Macias & Tony Ulloa - The Keyes Company
This transaction was completed on September 24, 2025. The brokers representing both the buyer and seller, Marcos Macias and Tony Ulloa, played a pivotal role in facilitating the deal. They noted that the property is situated steps away from the new Miami Freedom Park and the Miami Intermodal Center.
Players
Miami 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
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93