Miguel Petter Acquires Development Site In Little Havana For $1.725M
1505 West Flagler Street, Miami, Florida 33135, United States
$1,725,000
$123/SF
Building Size
13,995 SF
Asset Type
Development Site
Closing
Apr 10, 2022
AI
A development site located at 1505 W Flagler St in Little Havana, Miami has been sold for $1,725,000. The property spans a total of 13,995 square feet. The buyer, Miguel Petter, acquired the site from the seller, Justo Vazquez. The deal was facilitated by brokers William Colas from Kerdyk Real Estate and Osmany Mondaca from NXT LVL Realty.
Summary of transaction details:
- Property Type: Development Site
- Sale Price: $1,725,000
- Address: 1505 W Flagler St, Little Havana, Miami
- Market: Little Havana, Miami
The buyer, Miguel Petter, successfully closed the deal to purchase the development site located at 1505 W Flagler St. The seller, Justo Vazquez, agreed to sell the property. William Colas from Kerdyk Real Estate and Osmany Mondaca from NXT LVL Realty acted as brokers in the transaction, representing their respective clients.
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
9.20%
Cash-on-Cash
-2.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93