Updated Dec 4, 2024
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
32,107 SF
Asset Type
Development Site
Closing
Dec 14, 2023
About this deal
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.
On the Map
$10,000,000
$62/SF
Development Site
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Players
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