Preminger Investments Acquires Miami Gardens Office Building For $15.35M
18405 Northwest 2nd Avenue, Miami Gardens, FL, USA
$15,350,000
$131/SF
Building Size
116,560 SF
Asset Type
Office
Closing
Apr 4, 2021
About this deal
AI
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
Miami Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.03%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93