Updated Oct 29, 2024
Centennial Bank Provides $6.6M Loan For Development Site In Hialeah
7755 W 4th Ave, Hialeah, FL 33014, USA
$6,600,000
$38/SF
Building Size
170,000 SF
Asset Type
Development Site
Closing
Jun 17, 2020
About this deal
AI
A development site located at 7755 West Fourth Avenue in Hialeah has been involved in a recent loan transaction. The loan was provided by Centennial Bank, with J.C. de Ona representing the bank in the deal. The loan amount was $6,600,000.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $6,600,000
- Address: 7755 West Fourth Avenue, Hialeah
- Market: Hialeah
- Lender: Centennial Bank - J.C. de Ona
The development site is owned by Prestige Companies, with Marty Caparros acting as the landlord. The site has a building square footage (BSF) of 17,000 and includes 30 keys.
Players
Hialeah 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
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93