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11395 SW 88 Avenue

Jose Canero & Mario Beltran Acquire Development Site In Miami For $1.2M
SOLDDevelopment Site

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

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

Jose Canero

Buyer

$150.7M

vol

12 deals

Buyer

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