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Wellmeaning Investments Acquires Development Site In Fort Lauderdale For $2.4M

Property Image
SOLD
$2,400,000
Jaime Sturgis
Eduardo Pelaez

Florida

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Development Site19,229 SF
Sold 07/07/2020
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Property Image
SOLD

Wellmeaning Investments Acquires Development Site In Fort Lauderdale For $2.4M

1219 Northeast 4th Avenue, Fort Lauderdale, FL, USA

See Similar Deals
Development Site19,229 SF
Sold 07/07/2020
Jaime Sturgis
Eduardo Pelaez
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$124
Total Square Footage:19,229 SF
Transaction Type:Sale

The development site located at 1219 & 1239 NE Fourth Ave in Fort Lauderdale has been sold for $2,400,000. The property spans a total of 19,229 square feet and is classified as a development site. The buyer of the property is Wellmeaning Investments, represented by Eduardo Pelaez. The transaction was facilitated by broker Jaime Sturgis from Native Realty.

Summary of transaction details

  • Property Type: Development site
  • Transaction Amount: $2,400,000
  • Address: 1219 & 1239 NE Fourth Ave, Fort Lauderdale
  • Market: Fort Lauderdale
  • Buyer: Wellmeaning Investments
  • Seller's Representative: Eduardo Pelaez
  • Broker: Jaime Sturgis - Native Realty

This transaction showcases the acquisition of a development site within the Fort Lauderdale market. Wellmeaning Investments, represented by Eduardo Pelaez, purchased the property for a total of $2,400,000. The deal was facilitated by broker Jaime Sturgis from Native Realty. The property, located at 1219 & 1239 NE Fourth Ave, spans 19,229 square feet and presents an opportunity for development in the area.

Players

Jaime Sturgis
Native Realty
Jaime Sturgis
47 deals$234.1M volume
BROKER
Eduardo Pelaez
Eduardo Pelaez
10 deals$215M volume
BUYER

Details

SOLD
IMAGE: Jaime Sturgis DATE: 07/07/2020 ADDRESS: 1219 & 1239 NE Fourth Ave MARKET: Fort Lauderdale ASSET TYPE: Development site BUYER: Wellmeaning Investments - Eduardo Pelaez BROKER: Jaime Sturgis - Native Realty PRICE: $2,400,000 BSF: 19,229 ~ PPBSF: $124

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$127,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69