Lennar Homes Acquires 31 Acre Development Site In Miami For $7.7M
13400 Eureka Drive, Miami, FL, USA
$7,700,000
$2,996/SF
Building Size
2,570 SF
Asset Type
Development Site
Closing
Jan 7, 2021
AI
A development site located at 13400 Eureka Drive in Miami has been sold for $7,700,000. The property spans across 31 acres, resulting in a price of approximately $248,387 per acre.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,700,000
- Address: 13400 Eureka Drive
- Market: Miami
The buyer of the property is Lennar Homes, represented by Stuart Miller and Rick Beckwitt.
Note: No additional information is available about the transaction.
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
2.06%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93