Keith Wetzel Acquires Development Site In Coral Gables For $6.75M
5402 W Flagler St
$6,750,000
Building Size
—
Asset Type
—
Closing
Sep 9, 2022
About this deal
AI
The development site located at 5402 W Flagler St in the Coral Gables market was sold for $6,750,000. The site comprises a total square footage of 39,432 and a buildable square footage (BSF) of 179,000, resulting in a price per buildable square foot (PPBSF) of $38 and a price per square foot (PPSF) of $171.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,750,000
- Buyer: Keith Wetzel
- Seller: Hector Castellon
- Brokers: Andros Sarduy - Synergy Realty Advisors
- Brokers: Joey Canero - Canero Group
- Market: Coral Gables
- Square Footage: 39,432
- Buildable Square Footage: 179,000
- Price per Buildable Square Foot: $38
- Price per Square Foot: $171
The transaction involved key individuals with Andros Sarduy representing the seller through Synergy Realty Advisors and Joey Canero representing the buyer through Canero Group, facilitating the deal between Keith Wetzel and Hector Castellon.
On the Map
$6,750,000
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93