The Ward Law Group Acquires Office Property In Miami Lakes For $21M
SOLD
$21,000,000
Florida
See Similar DealsOffice77,713 SF
Sold 03/17/2023
SOLD
The Ward Law Group Acquires Office Property In Miami Lakes For $21M
7900 Northwest 154th Street
See Similar DealsOffice77,713 SF
Sold 03/17/2023
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$270
Total Square Footage:77,713 SF
Transaction Type:Sale
The Ward Law Group has acquired an office property located at 7900 Northwest 154th Street in Miami Lakes. The property, measuring 77,713 square feet, was sold by The Kislak Organization for a total price of $21,000,000. The transaction was facilitated by Alexander Bernaldo, SIOR from Americas Commercial Real Estate.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $21,000,000
- Square Footage: 77,713
- Price Per Square Foot: $270
- Address: 7900 Northwest 154th Street, Miami Lakes
- Buyer: The Ward Law Group
- Seller: The Kislak Organization
- Broker: Alexander Bernaldo, SIOR - Americas Commercial Real Estate
The acquisition of the office property by The Ward Law Group was successfully completed with the assistance of Alexander Bernaldo, a broker from Americas Commercial Real Estate. This transaction signifies The Ward Law Group's expansion or relocation within the Miami Lakes market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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