PulteGroup Acquires Development Land In Lake Worth For $9M
5024 S State Rd 7, Lake Worth, Fl 33449, Estados Unidos
$9,000,000
$7,211/SF
Building Size
1,248 SF
Asset Type
Development Site
Closing
Nov 17, 2020
AI
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
Lake Worth 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93