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1415 Nw 13 Ter

Marlon Cox Acquires Development Site In Miami For $10M
SOLDDevelopment Site

Marlon Cox Acquires Development Site In Miami For $10M

1415 Nw 13 Ter, 1433 Nw 13 Ter, 1435 Nw 13 Ter, 1453 Nw 13 Ter & 1410 Nw 14 St

$10,000,000

$62/SF

Building Size

160,535 SF

Asset Type

Development Site

Closing

Dec 14, 2023

AI

A development site in Miami's Health District has been sold for $10 million, setting a record price for the area. The site, located at 1415, 1433, 1435 & 1453 NW 13 Ter & 1410 NW 14 St, spans a total of 32,107 square feet. The sale was facilitated by Colliers International, with Virgilio Fernandez representing both the buyer, Marlon Cox, and the seller, Eddie Enis. The price per square foot was $311.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $10,000,000
  • Address: 1415, 1433, 1435 & 1453 NW 13 Ter & 1410 NW 14 St, Miami
  • Market: Miami
  • Buyer: Marlon Cox
  • Seller: Eddie Enis
  • Broker: Virgilio Fernandez - Colliers International
  • Square Footage: 32,107
  • Price per Square Foot: $311

Virgilio Fernandez played a crucial role in securing a beneficial record price per square foot and per buildable unit contract for both the buyer and sellers. The sale of this development site highlights the expertise and guidance provided by Colliers International in achieving investment objectives.

Players

Virgilio Fernandez

Cushman & Wakefield

Broker

$222.9M

vol

42 deals

Broker

Eddie Enis

Seller

$54.8M

vol

9 deals

Seller

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

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93