IM Data Centers Acquires Office Property In Miami For $15.8M
SOLD
$15,800,000
Florida
See Similar DealsOffice90,320 SF
Sold 10/18/2021
SOLD
IM Data Centers Acquires Office Property In Miami For $15.8M
100 Northeast 80th Terrace, Miami, FL 33138
See Similar DealsOffice90,320 SF
Sold 10/18/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$174
Total Square Footage:90,320 SF
Transaction Type:Sale
IM Data Centers has acquired an office asset located at 100 NE 80th Terrace in Miami. The property, which was sold by Florida East Coast Realty, was sold for a total price of $15,800,000. The office space spans 90,320 square feet, valuing it at $175 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $15,800,000
- Market: Miami
- Address: 100 NE 80th Terrace
The buyer, IM Data Centers, completed the transaction on 10/18/2021 with the seller, Florida East Coast Realty. Wayne R. Hollo represented the seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$842,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,134.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,900.06
Annual Debt Service$898,800.73
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