Kamal Patwary Acquires Industrial Property From DRG Properties For $720,000 In Homestead
637 West Mowry Drive & 1 Nw 7 Ave
$720,000
$136/SF
Building Size
2,632 SF
Asset Type
Industrial
Closing
Mar 10, 2025
AI
The asset involved in this transaction is an industrial property located at 637 West Mowry Drive & 1 Northwest 7th Avenue, situated in the Homestead market. The property was sold for a price of $720,000, with a total square footage of 2,632, resulting in a price per square foot of $273.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $720,000
- Square Footage: 2,632
- Price Per Square Foot: $273
- Buyer: Kamal Patwary
- Seller: DRG Properties
- Buyer's Representative: Aldo Briolo - Cervera Real Estate
- Seller's Representative: Felipe Serrano - BRS
The transaction was facilitated by Aldo Briolo representing the buyer, Kamal Patwary, and Felipe Serrano representing the seller, DRG Properties, ensuring a smooth process for both parties involved in this deal.
Players
Homestead 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
22.03%
Cash-on-Cash
-6.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93