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.
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