Adonel Concrete, The Apollo Companies, And Link Construction Sell Miami Office Building For $7M
800 NW 15th St Miami, FL 33136, USA
$7,000,000
$650/SF
Building Size
10,754 SF
Asset Type
Office
Closing
Jul 3, 2023
About this deal
AI
A medical building located at 800 Northwest 15th Street in Miami has been sold for $7,000,000. The property spans 10,754 square feet with a price per square foot of $651. The transaction took place on July 3, 2023.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,000,000
- Address: 800 Northwest 15th Street, Miami
- Square Footage: 10,754
- Price Per Square Foot: $651
The seller, 800 NW 15 Street LLC, was represented by Luis Garcia (CEO of Adonel), Eduardo Abbo (president of The Apollo companies), Guillermo Fernandez (president of Link Construction), and Morten Aagaard. Luis Garcia and Eduardo Abbo previously purchased the property for $3.1 million on May 5, 2021. The recent sale marks a profit of $3.9 million, two years after the initial purchase.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93