Andres M. Rodriguez Acquires Development Site In Miami For $3,175,000
SOLD
$3,175,000
Florida
See Similar DealsDevelopment Site
Sold 11/09/2023
SOLD
Andres M. Rodriguez Acquires Development Site In Miami For $3,175,000
1565 South Miami Avenue & 1575 South Miami Avenue
See Similar DealsDevelopment Site
Sold 11/09/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$169,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,280.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,051.12
Annual Debt Service$180,613.44
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