Ardent Companies Acquires Office Building In South Miami For $36.7M
SOLD
$36,700,000
Florida
See Similar DealsOffice96,779 SF
Sold 01/07/2021
SOLD
Ardent Companies Acquires Office Building In South Miami For $36.7M
6262 Sunset Drive, South Miami, FL, USA
See Similar DealsOffice96,779 SF
Sold 01/07/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$379
Total Square Footage:96,779 SF
Transaction Type:Sale
Located at 6262 Sunset Drive in South Miami, an office property was recently sold for a staggering price of $36,700,000. The transaction took place on January 7, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $36,700,000
- Address: 6262 Sunset Drive
- Market: South Miami
The buyer, Ardent Companies, was represented by Matt Shulman. On the other hand, the seller, USAA Real Estate Company, was represented by Len O'Donnell.
This deal showcases the involvement of key individuals and companies such as Matt Shulman from Ardent Companies and Len O'Donnell from USAA Real Estate Company.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,957,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$130,387.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$173,976.72
Annual Debt Service$2,087,720.68
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