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1565 South Miami Avenue

Andres M. Rodriguez Acquires Development Site In Miami For $3,175,000
SOLDDevelopment Site

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

Ruben Chamorro

Douglas Elliman

Broker

$25.8M

vol

12 deals

Broker

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