Preminger Investments Acquires Miami Gardens Office Building For $15.35M
SOLD
$15,350,000
Florida
See Similar DealsOffice116,560 SF
Sold 04/05/2021
SOLD
Preminger Investments Acquires Miami Gardens Office Building For $15.35M
18405 Northwest 2nd Avenue, Miami Gardens, FL, USA
See Similar DealsOffice116,560 SF
Sold 04/05/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$131
Total Square Footage:116,560 SF
Transaction Type:Sale
An office property located at 18405 NW 2nd Avenue in Miami Gardens has been sold for $15,350,000. The transaction took place on 04/05/2021, involving a total of 116,560 square feet. The property sits on 5.78 acres. The price per square foot was $132, and the price per acre was $2,655,709.
Summary of transation details
- Property Type: Office
- Transaction Amount: $15,350,000
- Address: 18405 NW 2nd Avenue
- Market: Miami Gardens
- Square Footage: 116,560
- Price per Square Foot: $132
- Acres: 5.78
- Price per Acre: $2,655,709
The buyer of the property was Preminger Investments, and the seller was TM Real Estate Group. The deal was facilitated by brokers Peter Mekras and Brell Tarich from Aztec Group, Inc.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$818,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,535.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,766.83
Annual Debt Service$873,201.97
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