Updated Aug 5, 2025
Alvaro Delgado Acquires Development Site In Miami From Tom Barkett For $4.225M
1220 Southwest 8th Street
$4,225,000
$382/SF
Building Size
11,042 SF
Asset Type
Development Site
Closing
Jul 30, 2025
About this deal
AI
The development site located at 1220 Southwest 8th Street in Miami was sold for a total of $4,225,000. The property spans 24,050 square feet, translating to a price per square foot of $175.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,225,000
- Square Footage: 24,050 SF
- Price Per Square Foot: $175
- Buyer: Alvaro Delgado
- Seller: Tom Barkett
- Brokers: Eduardo Toledo, Jonathan De La Rosa & Nicholas Hassan - Marcus & Millichap
- Date of Transaction: 07/31/2025
This transaction involved prominent brokers Eduardo Toledo, Jonathan De La Rosa, and Nicholas Hassan representing the buyer and seller. The sale was finalized in the Miami market, with both parties engaging in an agreement beneficial for their respective interests.
On the Map
$4,225,000
$382/SF
Development Site
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Players
Miami 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
3.75%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93