$2,985,000
$1,700,000
75.6%For more information regarding the value of a property, please contact us for a free consultation.
11,325 SqFt
SOLD DATE : 12/17/2020
Key Details
Sold Price $2,985,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 11,325 sqft
Price per Sqft $263
MLS Listing ID A10930614
Sold Date 12/17/20
HOA Y/N No
Year Built 1985
Annual Tax Amount $18,635
Lot Size 0.480 Acres
Property Sub-Type Industrial
Property Description
Multifamily Real Estate Group is pleased to exclusively bring to market
221-241 West 28th Street in Hialeah FL. The offering is a multi-bay
industrial warehouse, which consists of one-folio with 8 bays totaling
11,325 Sq.Ft. of leasable space.
Presently the property operates with 2-tenants which have been in the
property for over 10-years, all of them with leases expiring 2024. Leases
call for a yearly 5% increase, meaning that a future owner in January 2021
can enjoy a $107,872 NOI. A potential buyer could secure a loan with a
70LTV, a 4% interest rate, amortized over 30 years and achieve on year-2
a 7.78% Cash-on-Cash Return.
Location
State FL
County Miami-dade County
Area 30
Direction The subject property is strategically located in the city of Hialeah at less than 2-miles from Hialeah Hospital, the recently built 75,767 Sq.Ft. Leon Medical Center, Hialeah Horse Track and Casino and 7 miles to the Miami International Airport.
Exterior
Private Pool Yes
Others
Tax ID 04-31-07-010-0760
Financing Cash
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Bought with 77 Realty, LLC.
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