Jason Weiss Sells Development Site At The Madison Club For $3.75M
The Madison Club, Meriwether Way, La Quinta, CA, USA
$3,750,000
$170/SF
Building Size
22,000 SF
Asset Type
Development Site
Closing
Jul 31, 2021
AI
The Madison Club, Lot 80 B in La Quinta, CA has been sold in a recent transaction.
Summary of transaction details
- Property Type: Development Site
- Asking Price: $4,000,000
- Sale Price: $3,750,000
- BSF: 22,000
- Price per BSF: $170
- Market: La Quinta
- Broker: Jason Weiss
The deal was facilitated by broker Jason Weiss. The property, with a total square footage of 22,000, was sold for a sale price of $3,750,000, which equates to a price per BSF of $170. The Madison Club, Lot 80 B is located in La Quinta, CA, a thriving market for real estate. The transaction involved a development site and represents a significant opportunity for future development in the area.
Players
La Quinta Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93