MG2 Group Acquires Property In Doral For $11.6 Million With Representative Dominic Montazemi
SOLD
$11,600,000
+ 2
Florida
See Similar DealsWarehouse118,993 SF
SOLD
MG2 Group Acquires Property In Doral For $11.6 Million With Representative Dominic Montazemi
3500 NW 89th Ct, Miami, FL, 33172
See Similar DealsWarehouse118,993 SF
+ 2
Summary
FLORIDA
Asset Type:Warehouse
Price Per Square Foot:$97
Total Square Footage:118,993 SF
Transaction Type:Sale
The former Miami Herald Printing Facility, located at 3500 NW 89th Ct, Miami, FL, 33172, is a three-story warehouse that spans 118,993 square feet. The property features 15 dock-high positions, one grade-level ramp, and clear heights ranging from 10 feet to 46 feet. Built in 2013, it is situated in the Doral market and has been sold for $11,600,000.00.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $11,600,000.00
- Address: 3500 NW 89th Ct, Miami, FL, 33172
- Market: Doral
- Buyer's Name: MG2 Group
- Seller's Representatives: Miguel Alcivar, Wayne Ramoski, Gian Rodriguez, Dominic Montazemi, and Skylar Stein - Cushman & Wakefield
Cushman & Wakefield played a crucial role in the transaction, representing the undisclosed seller. The buyer, MG2 Group, is noted as a private real estate company that has acquired the property. According to previous reports, this facility had a significant print circulation in 2019.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$618,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,212.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,989.92
Annual Debt Service$659,879.02
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