Adonel Concrete Acquires Office Building In Miami For $4M
242 Northwest 42nd Avenue, Miami, FL, USA
$4,000,000
$470/SF
Building Size
8,500 SF
Asset Type
Office
Closing
Mar 31, 2021
About this deal
AI
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.
On the Map
$4,000,000
$470/SF
Office
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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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93