Thor Equities Group Sells Miami Office Building On NE 39th Street For $45.2M
SOLD
$45,210,000
Florida
See Similar DealsOffice12,972 SF
Sold 08/22/2022
SOLD
Thor Equities Group Sells Miami Office Building On NE 39th Street For $45.2M
70 Northeast 39th Street, Miami, Florida 33137, United States
See Similar DealsOffice12,972 SF
Sold 08/22/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$3,485
Total Square Footage:12,972 SF
Transaction Type:Sale
Thor Equities Group and Joe Sitt, in partnership with ASB Capital Management, have sold an office property located at 70 NE 39th Street in Miami. The transaction was completed on 08/22/2022, with a sale price of $45,210,000. The property spans 12,972 square feet, resulting in a price per square foot of $3,485.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $45,210,000
- Address: 70 NE 39th Street, Miami
- Square Footage: 12,972
- Price per Square Foot: $3,485
Joe Sitt, representing Thor Equities Group, and ASB Capital Management were the sellers in this transaction.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,411,200.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$160,621.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$214,318.47
Annual Debt Service$2,571,821.58
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