Hernandez Development Secures $17.6M Construction Loan From Andover Properties For Opa Locka Project
14301 Northwest 27th Avenue
$17,600,000
Building Size
—
Asset Type
Development Site
Closing
Jul 10, 2025
AI
The property asset involved in this transaction is a development site located at 14301 Northwest 27th Avenue in Opa Locka. The site encompasses approximately 2.22 acres and is designated for a self-storage facility managed by CubeSmart, totaling 149,889 square feet. The construction loan secured for the project amounts to $17.6 million.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $17,600,000
- Asset Size: 149,889 SF
- Address: 14301 Northwest 27th Avenue
- Market: Opa Locka
- Lender: Brian Cohen - Andover Properties
- Landlord: Alex Hernandez - Hernandez Development
- Broker: Jeff Dybas - Cushman & Wakefield
- Loan Type: Construction
The deal features Brian Cohen representing Andover Properties as the lender, while Alex Hernandez represents Hernandez Development as the landlord. Jeff Dybas of Cushman & Wakefield acts as the broker for the transaction. This project is anticipated to be completed by June 2026, as a response to rising storage demand in the region.
Players
Opa Locka Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.90%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93