Alvaro Delgado Acquires Development Site In Miami From Tom Barkett For $4.225M
SOLD
$4,225,000
Florida
See Similar DealsDevelopment Site11,042 SF
Sold 07/31/2025
SOLD
Alvaro Delgado Acquires Development Site In Miami From Tom Barkett For $4.225M
1220 Southwest 8th Street
See Similar DealsDevelopment Site11,042 SF
Sold 07/31/2025
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$382
Total Square Footage:11,042 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$225,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,010.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,028.66
Annual Debt Service$240,343.87
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