Andres M. Rodriguez Acquires Development Site In Miami For $3,175,000
1565 South Miami Avenue & 1575 South Miami Avenue
$3,175,000
Building Size
—
Asset Type
Development Site
Closing
Nov 9, 2023
AI
The development site located at 1565-1575 South Miami Avenue in Miami has been sold in a recent transaction. The property was sold for a sale price of $3,175,000, which is lower than the asking price of $3,500,000. The transaction took place on 11/09/2023.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,175,000
- Market: Miami
The buyer of the property is Andres M. Rodriguez, while the seller is Tipophe Real Estate represented by Fabrice Mkail. The deal was facilitated by Ruben Chamorro and Devin Kay from Douglas Elliman.
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
5.00%
Cash-on-Cash
-1.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93