Sierra Development Acquires Pinecrest Development Site For $1.4M With Eric Torrente As The Broker
10860 SW 67th Ave, Pinecrest, Florida 33156, United States
$1,400,000
$29/SF
Building Size
47,480 SF
Asset Type
Development Site
Closing
Mar 18, 2020
AI
The development site located at 10860 SW 67th Court in Pinecrest has been sold for $1,400,000. The property spans 47,480 square feet and has a price per buildable square foot (PPBSF) of $29. The sale took place on March 18, 2021, and the buyer is Felix Sierra of Sierra Development. The seller is Israel Martinez, Aleida Martinez, and Celina Martinez. The transaction was facilitated by Eric Torrente.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,400,000
- Address: 10860 SW 67th Court
- Market: Pinecrest
Felix Sierra, representing Sierra Development, purchased the property from Israel Martinez, Aleida Martinez, and Celina Martinez. Eric Torrente served as the broker in this deal.
Players
Pinecrest Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93