Sierra Development Acquires Pinecrest Development Site For $1.4M With Eric Torrente As The Broker
SOLD
$1,400,000
Florida
See Similar DealsDevelopment Site47,480 SF
Sold 03/18/2020
SOLD
Sierra Development Acquires Pinecrest Development Site For $1.4M With Eric Torrente As The Broker
10860 SW 67th Ave, Pinecrest, Florida 33156, United States
See Similar DealsDevelopment Site47,480 SF
Sold 03/18/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$29
Total Square Footage:47,480 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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