Urban Street Development Acquires Development Site In Fort Lauderdale For $9M
401 NW 1st St, Cape Coral, FL 33993, USA
$9,000,000
$6,156/SF
Building Size
1,462 SF
Asset Type
Development Site
Closing
May 14, 2020
AI
An development site located at 401 Northwest 1st Ave in Fort Lauderdale has been closed on as part of a transaction. The property is owned by Urban Street Development, represented by Tim Petrillo and Alan Hooper.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $9,000,000
- Units: 35
- Market: Fort Lauderdale
- Landlord: Urban Street Development - Tim Petrillo & Alan Hooper
- Broker: Brad Williamson - Berkadia
The deal was facilitated by Brad Williamson from Berkadia. No additional information is available regarding this transaction.
Players
Cape Coral 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93