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PulteGroup Acquires Development Land In Lake Worth For $9M

Property Image
SOLD
$9,000,000
F. Thomas Godart
WM
BB

Connecticut

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Development Site1,248 SF
Sold 11/18/2020
the dealplayerscompscontact
Property Image
SOLD

PulteGroup Acquires Development Land In Lake Worth For $9M

5024 S State Rd 7, Lake Worth, Fl 33449, Estados Unidos

See Similar Deals
Development Site1,248 SF
Sold 11/18/2020
F. Thomas Godart
WM
BB
the dealplayerscompscontact
Contact now

Summary

CONNECTICUT
Asset Type:Development Site
Price Per Square Foot:$7,211
Total Square Footage:1,248 SF
Transaction Type:Sale

Development Land located at 5024 South State Road 7 in Lake Worth has been sold for $9,000,000. The transaction took place on November 18, 2020. The property spans 31 acres, resulting in a price per acre (PPA) of $290,323.

Summary of Transaction Details

  • Property Type: Development Land
  • Transaction Amount: $9,000,000
  • Address: 5024 South State Road 7, Lake Worth
  • Market: Lake Worth
  • Buyer: PulteGroup – Brent Baker
  • Seller: William A. Mazzoni
  • Broker: F. Thomas Godart – Godart Florida Real Estate Investments
  • Acres: 31
  • Price per Acre (PPA): $290,323

Brent Baker, representing PulteGroup, acted as the buyer in this transaction. The seller of the property was William A. Mazzoni. F. Thomas Godart, from Godart Florida Real Estate Investments, served as the broker for the deal.

Players

F. Thomas Godart
F. Thomas Godart
1 deal$9M volume
BROKER
BB
Brent Baker
4 deals$98.4M volume
BUYER
WM
William Mazzoni
2 deals$20.2M volume
SELLER

Details

SOLD
IMAGE: Brent Baker & F. Thomas Godart⁠ DATE: 11/18/2020⁠ ADDRESS: 5024 South State Road 7⁠ MARKET: Lake Worth⁠ ASSET TYPE: Development Land⁠ ⁠ BUYER: PulteGroup – Brent Baker⁠ SELLER: William A. Mazzoni⁠ BROKER: F. Thomas Godart – Godart Florida Real Estate Investments⁠ ⁠ PRICE: $9,000,000⁠ ACRES: 31 ~ PPA: $290,323⁠ ⁠

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10