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Storage Deluxe Acquires Office Asset From Red Group In Miami For $11.5M

Property Image
SOLD
$11,500,000

Florida

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Office
Sold 02/18/2022
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Property Image
SOLD

Storage Deluxe Acquires Office Asset From Red Group In Miami For $11.5M

330 332 Nw 29th St & 330 332 Nw 29th St

See Similar Deals
Office
Sold 02/18/2022
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Transaction Type:Sale

The asset involved in this transaction is an office space located at 330 332 Nw 29th St, Miami. The property was sold for $11,500,000.00.

Summary of transaction details:

This transaction was facilitated by Tony Arellano from DWNTWN Realty Advisors, representing the interests of the buyer. The deal highlights the involvement of Storage Deluxe acquiring the property from Red Group, marking a significant step in the local market.

Players

Tony Arellano
DWNTWN Realty Advisors
Tony Arellano
152 deals$1.6B volume
BROKER
SD
Storage Deluxe
BUYER

Details

SOLD
IMAGE: 02/18/2022 ADDRESS: 330 332 Nw 29th St MARKET: Miami ASSET TYPE: Office BROKERS: Tony Arellano(DWNTWN Realty Advisors) BUYER: Storage Deluxe SELLER: Red Group PRICE: $11,500,000.00

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$613,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,515.87
Annual Debt Service$654,190.40