Kamal Patwary Acquires Industrial Property From DRG Properties For $720,000 In Homestead
SOLD
$720,000
Florida
See Similar DealsIndustrial5,264 SF
Sold 03/10/2025
SOLD
Kamal Patwary Acquires Industrial Property From DRG Properties For $720,000 In Homestead
637 West Mowry Drive & 1 Nw 7 Ave
See Similar DealsIndustrial5,264 SF
Sold 03/10/2025
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$136
Total Square Footage:5,264 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$38,400.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,558.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,413.17
Annual Debt Service$40,958.01
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