Javelin Investors Acquires Office Building In Miami For $7.8M
SOLD
$7,800,000
Florida
See Similar DealsOffice14,556 SF
Sold 09/23/2021
SOLD
Javelin Investors Acquires Office Building In Miami For $7.8M
2401 Douglas Road, Miami, FL, USA
See Similar DealsOffice14,556 SF
Sold 09/23/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$535
Total Square Footage:14,556 SF
Transaction Type:Sale
The office property located at 2401 Douglas Road in Miami has been sold for a price of $7,800,000. The property spans a total area of 0.6 acres. It offers a spacious interior with a total square footage of 14,556, resulting in a price per square foot of $536.
Summary of transation details
- Property Type: Office
- Transaction Amount: $7,800,000
- Address: 2401 Douglas Road, Miami
- Market: Miami
- Total Acres: 0.6
The buyer in this transaction is Javelin Investors. They were represented by Renier Casanova from Compass. The seller, Fortune International Realty, was represented by Walter Defortuna and Edgardo Defortuna. Cesar Molina from Fortune International Realty served as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$415,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,711.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,975.98
Annual Debt Service$443,711.75
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