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Sale · Office

Updated Oct 28, 2024

Lionstone Development Acquires Office Building In Hialeah For $16.8M
SOLDOffice

Lionstone Development Acquires Office Building In Hialeah For $16.8M

$16,800,000

$300/SF

Building Size

56,000 SF

Asset Type

Office

Closing

May 16, 2022

About this deal

AI

Located at 5901 Miami Gardens Dr in Hialeah, this office property was recently sold in a transaction facilitated by Alex Zylberglait from Marcus & Millichap. The property spans approximately 56,000 square feet, with a sale price of $16,800,000, resulting in a price per square foot of $300. The buyer in this transaction was Lionstone Development, while Norberto Roman served as the seller.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $16,800,000
  • Square Footage: 56,000
  • Address: 5901 Miami Gardens Dr, Hialeah
  • Market: Hialeah
  • Buyer: Lionstone Development
  • Seller: Norberto Roman
  • Broker: Alex Zylberglait - Marcus & Millichap

This transaction involved key individuals and companies, including Lionstone Development as the buyer and Norberto Roman as the seller. The deal was facilitated by Alex Zylberglait from Marcus & Millichap. The sale price of $16,800,000 for this 56,000 square foot office property reflects a price per square foot of $300.

Players

Alex Zylberglait

Marcus & Millichap

Broker

$211.5M

vol

26 deals

Broker

Market Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $300 per square foot on a published $16.8M for 56,000 square feet (2022).

Visit Alex Zylberglait to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.94%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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