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637 West Mowry Drive

Kamal Patwary Acquires Industrial Property From DRG Properties For $720,000 In Homestead
SOLDIndustrial

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

Aldo Briolo

Cervera Real Estate

Broker

$3.6M

vol

2 deals

Broker

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