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Gino Santorio Of Mount Sinai Medical Center Acquires Office From Jim Rechtin For $9.7M In Hialeah
SOLD
$9,700,000
Florida
See Similar DealsOffice85,865 SF
Sold 02/06/2025
SOLD
Gino Santorio Of Mount Sinai Medical Center Acquires Office From Jim Rechtin For $9.7M In Hialeah
522 East 25th Street
See Similar DealsOffice85,865 SF
Sold 02/06/2025
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$113
Total Square Footage:85,865 SF
Transaction Type:Sale
An office property at 522 East 25th Street in Hialeah has been sold for $9,700,000. This five-story medical office building encompasses 85,865 square feet and is situated on 0.66 acres. The property was constructed in 2004 and is zoned C-1, with a sale price of approximately $113 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,700,000
- Address: 522 East 25th Street
- Market: Hialeah
- Square Footage: 85,865 SF
- Price Per Square Foot: $113
- Acres: 0.66
- Buyer: Gino Santorio - Mount Sinai Medical Center
- Seller: Jim Rechtin - Humana Inc.
Gino Santorio represented Mount Sinai Medical Center in the acquisition while Jim Rechtin represented Humana Inc. in the sale of this medical office building, which also includes a parking garage.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$517,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,462.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,982.95
Annual Debt Service$551,795.38
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