Adonel Concrete Acquires Office Building In Miami For $4M
SOLD
$4,000,000
Florida
See Similar DealsOffice8,500 SF
Sold
SOLD
Adonel Concrete Acquires Office Building In Miami For $4M
242 Northwest 42nd Avenue, Miami, FL, USA
See Similar DealsOffice8,500 SF
Sold
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$470
Total Square Footage:8500 SF
Transaction Type:Sale
An office property located at 214-242 NW 42nd Ave in Miami has been sold for $4,000,000. The property spans across 8,500 square feet with a price per square foot of $471. The transaction took place on April 1, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,000,000
- Address: 214-242 NW 42nd Ave, Miami
- Market: Miami
- Square Footage: 8,500
- Price per Square Foot: $471
The buyer of the property is Adonel Concrete, represented by Luis Garcia and Bob Cardonne. The brokers involved in the transaction were Ana Teresa Rodriguez and Morten Aagaard from ATR Group - Coldwell Banker Realty.
Players
BUYER
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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