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Olson Land Partners Acquires Development Site In Lantana For $2.55M

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SOLD
$2,550,000

Florida

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Development Site
Sold 12/09/2022
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Property Image
SOLD

Olson Land Partners Acquires Development Site In Lantana For $2.55M

1300 West Lantana Road

See Similar Deals
Development Site
Sold 12/09/2022
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

The development site located at 1300 West Lantana Road in Lantana has been sold in a closed transaction. The property was sold by JP Morgan Chase to Olson Land Partners for a sale price of $2,550,000. This development site offers great potential for future development and is situated in a prime location.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $2,550,000
  • Address: 1300 West Lantana Road
  • Market: Lantana

This transaction was facilitated by the buyer's representative, Jonathan Rosen from Colliers, and the seller's representative, Dominic Delgado from Cushman & Wakefield. Their expertise and negotiation skills played a crucial role in the successful completion of this deal. The collaboration between the buyer and seller, along with the assistance of their respective representatives, ensured a smooth and efficient transaction process.

Players

Jonathan Rosen
3 deals$2.6M volume
BROKER

Dominic Delgado
Cushman & Wakefield
1 deal$2.6M volume(954) 377-0529
BROKER

J.P. Morgan Chase
SELLER

Details

SOLD
IMAGE: Dominic Delgado & Jonathan Rosen DATE: 12/09/2022 ADDRESS: 1300 West Lantana Road MARKET: Lantana ASSET TYPE: Development Site BUYER: Olson Land Partners SELLER: JP Morgan Chase BUYER'S REP: Jonathan Rosen (@JonbRosen) - Colliers SELLER'S REP: Dominic Delgado (@Then8r) - Cushman & Wakefield SALE PRICE: $2,550,000

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

$136,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61