Menesse International And Lucid Investment Group Acquire Development Site In Miami For $23.5M
SOLD
$23,500,000
Florida
See Similar DealsSOLD
Menesse International And Lucid Investment Group Acquire Development Site In Miami For $23.5M
143 SW 9th St
See Similar DealsSummary
FLORIDA
Transaction Type:Sale
A development site located at 143 SW 9th St in Miami has been sold for $23,500,000. Spanning 30,000 square feet, the property was purchased by Menesse International and Lucid Investment Group. The price per square foot for this transaction was $783.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $23,500,000
- Address: 143 SW 9th St
- Market: Miami
- Buyer: Menesse International; Lucid Investment Group - Andrew Rasken
- Seller: Santiago Vanegas
- Buyer's Representative: Margarita Sanclemente & Juan Jose Velasquez - Sanclemente Group - Douglas Elliman
- Seller's Representative: Alfonso Jaramillo - Fortune International Realty
- SF: 30,000
- PPSF: $783
Margarita Sanclemente and Juan Jose Velasquez from the Sanclemente Group at Douglas Elliman represented the buyers in this transaction. Alfonso Jaramillo from Fortune International Realty represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,253,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$83,490.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,401.99
Annual Debt Service$1,336,823.87
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