Aaron Vays & John Murch Of Bayit Development Acquire Development Site In Miami For $770,000
1240 Southwest 12th Avenue
$770,000
$109/SF
Building Size
7,020 SF
Asset Type
Development Site
Closing
Apr 9, 2026
AI
The development site at 1240 Southwest 12th Avenue in Miami is under contract to be acquired by Aaron Vays and John Murch of Bayit Development for a total price of $770,000. This site spans 7,020 square feet and is located in the Shenandoah neighborhood, a region recognized for its urban potential.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $770,000
- Square Footage: 7,020 SF
- Price Per Square Foot: $109
- Buyer: Aaron Vays & John Murch - Bayit Development
- Seller: Eugenio Navarro
- Broker: Camilo Franco
John Murch and Aaron Vays are embarking on their first project with this acquisition as they aim to establish Bayit Development’s presence in a highly sought-after urban corridor within Miami.
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
20.60%
Cash-on-Cash
-5.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93