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350 Northwest 6th Street, M...

South Florida Community Land Trust Acquires 0.83 Acre Land In Miami For $5.15M
SOLD

South Florida Community Land Trust Acquires 0.83 Acre Land In Miami For $5.15M

350 Northwest 6th Street, Miami, Florida 33136, United States

$5,150,000

$142/SF

Building Size

36,174 SF

Asset Type

Closing

Apr 17, 2022

AI

A land property located at 350 NW 6th St. in Miami has been sold. The property spans approximately 0.83 acres and was purchased by South Florida Community Land Trust from Make-A-Wish®️ Southern Florida Inc. for a total of $5,150,000. The sale took place on April 18, 2022.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $5,150,000
  • Address: 350 NW 6th St., Miami
  • Market: Miami
  • Size: 36,174 square feet

The transaction was facilitated by the Southeast Investment Sales team from Transwestern Real Estate Services’ (TRS), with John Bell, Mike McGaughy, and Jon Kleinberg representing the buyer and seller.

The property, located at 350 NW 6th St., offers a valuable opportunity for development or investment due to its prime location in Miami. The transaction reflects the strong demand for land in the city and highlights the involvement of the South Florida Community Land Trust and Make-A-Wish®️ Southern Florida Inc. in the local real estate market.

Players

John Bell

Transwestern

Broker

$5.2M

vol

1 deal

Broker

Norman Wedderburn

Seller

$13.2M

vol

2 deals

Seller

Miami CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.08%

Cash-on-Cash

-0.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93