Lennar Homes Acquires 31 Acre Development Site In Miami For $7.7M
SOLD
$7,700,000
Florida
See Similar DealsDevelopment Site2,570 SF
Sold 01/08/2021
SOLD
Lennar Homes Acquires 31 Acre Development Site In Miami For $7.7M
13400 Eureka Drive, Miami, FL, USA
See Similar DealsDevelopment Site2,570 SF
Sold 01/08/2021
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$2,996
Total Square Footage:2,570 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$410,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,356.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,501.93
Annual Debt Service$438,023.14
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