Updated Feb 5, 2025
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
About this deal
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.
The development site sale at 13400 Eureka Drive, Miami, FL, USA in Miami, Florida sold for $7.7M in 2021. The building is 2,570 square feet, implying about 3K per square foot on the published price. Named participants on the 13400 Eureka Drive, Miami, FL, USA sale are Stuart Miller, Rick Beckwitt. This page is the Miami, Florida file for the 13400 Eureka Drive, Miami, FL, USA development site sold: pricing, party profiles, and other closed development site comps from the same Miami sit in the Market section below. Filter that Miami development site set by closing date to see what else sold near 13400 Eureka Drive, Miami, FL, USA around 2021. Published consideration for 13400 Eureka Drive, Miami, FL, USA is $7.7M, dated 2021. Cite this Lennar Homes Acquires 31 Acre Development Site In Miami For $7.7M sale when underwriting similar development site product around Miami, Florida.
On the Map
$7,700,000
$2,996/SF
Development Site
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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