MG2 Group Acquires Property In Doral For $11.6 Million With Representative Dominic Montazemi
3500 NW 89th Ct, Miami, FL, 33172
$11,600,000
$97/SF
Building Size
118,993 SF
Asset Type
Warehouse
Closing
Nov 19, 2023
About this deal
AI
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.
Players
Doral Warehouse Market Snapshot
Boundary boundary · Warehouse · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93