facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Development Site

/

Sale

/

1120 SW 3 Ave

Visions At Brickell Acquires Development Site In Miami For $8.5M
SOLDDevelopment Site

Visions At Brickell Acquires Development Site In Miami For $8.5M

1120 SW 3 Ave, 1130 Southwest 3rd Avenue & 1136 Southwest 3rd Avenue

$8,500,000

Building Size

Asset Type

Development Site

Closing

Dec 19, 2023

AI

A development site located at 1120, 1130 & 1136 Southwest 3rd Avenue in Miami has been sold. The property was purchased by Visions at Brickell from Ultimate Properties for a sale price of $8,500,000. The transaction took place on 12/19/2023. The development site offers potential for future development in Miami's real estate market.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $8,500,000
  • Address: 1120, 1130 & 1136 Southwest 3rd Avenue
  • Market: Miami

Ashley Alvarez and William Alvarez from Sterling One Realty served as the brokers in this transaction, representing both the buyer, Visions at Brickell, and the seller, Ultimate Properties. Their expertise and attention to detail ensured a smooth sale of the property. The Alvarez Group, founded by William and Ashley Alvarez, is known for their strategic negotiations and market insights in Miami's real estate market. They can be reached at 305-285-2322 for any investment opportunities in the area.

Please note that the sale price of $8,500,000 was confirmed in the transaction, demonstrating the successful outcome of the deal.

Players

Ashley Alvarez

Sterling One Realty

Broker

$34.6M

vol

6 deals

Broker

Miami Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.87%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93