Updated Dec 4, 2024
Romero Britto Acquires Industrial Asset In Little River For $11.8M With Broker Representation
795 Northwest 72nd Street
$11,800,000
$203/SF
Building Size
58,000 SF
Asset Type
Industrial
Closing
Sep 20, 2024
About this deal
AI
The property asset involved in this transaction is an industrial space located at 795 Northwest 72nd Street in Little River. The sale was finalized for a price of $11,800,000 and encompasses a total square footage of 58,000. The price per square foot for this asset stands at $203.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11,800,000
- Square Footage: 58,000
- Price per Square Foot: $203
- Buyer: Romero Britto
- Seller: Joseph Del Vecchio
- Buyer's Representative: Jason Zarco - Berkshire Hathaway HomeServices EWM Realty
- Seller's Representative: Alfredo Riascos - Gridline Properties
The transaction involved key individuals, including the buyer Romero Britto and seller Joseph Del Vecchio, with Jason Zarco representing the buyer and Alfredo Riascos acting as the seller's representative. Both representatives are affiliated with their respective firms, providing professional guidance throughout the sale.
On the Map
$11,800,000
$203/SF
Industrial
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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
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93