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970 Cape Marco Dr Marco Isl...

Richard & Teresa Harris Acquire Marco Island Condo For $3.2M
SOLDCondo

Richard & Teresa Harris Acquire Marco Island Condo For $3.2M

970 Cape Marco Dr Marco Island, FL 34145, USA

$3,200,000

$796/SF

Building Size

4,020 SF

Asset Type

Condo

Closing

Jul 14, 2023

AI

The property involved in this transaction is a Condo located at 970 Cape Marco Drive in Marco Island. The sale took place on 07/14/2023. The property spans 4,020 square feet and was sold for a price of $3,200,000, resulting in a price per square foot of $796.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $3,200,000
  • Address: 970 Cape Marco Drive
  • Market: Marco Island

The buyer of the property is Richard & Teresa Harris, while the seller is Maureen A Mcquaid Rev Trust. Representing the buyer is Chris Sullivan from Remax.

Players

Chris Sullivan

Re/Max

Broker

$55.1M

vol

10 deals

Broker

Richard Harris

Buyer

$28.3M

vol

3 deals

Buyer
RT
Rev TrustSeller

Miami Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93