Updated May 12, 2025
Jose Canero & Mario Beltran Acquire Development Site In Miami For $1.2M
11395 SW 88 Avenue
$1,200,000
$35/SF
Building Size
33,977 SF
Asset Type
Development Site
Closing
Sep 13, 2023
About this deal
AI
The development site located at 11395 SW 88 Avenue in Miami has been sold for $1,200,000. The asset spans 33,977 square feet, resulting in a price per square foot of $35.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,200,000
- Buyer: Jose Canero & Mario Beltran
- Seller: Reishma Galbaransingh
- Square Footage: 33,977
- Price per Square Foot: $35
- Date of Transaction: 09/13/2023
Jose Canero and Mario Beltran are the buyers planning to construct a 6,500 square foot luxury home on the purchased site. Reishma Galbaransingh represented the seller in this transaction.
Players
Market 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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93