Updated Oct 28, 2024
Enrique Teran & Andres Korda Acquire Development Site In Lake Worth For $2.49M
1715 Dixie Highway, Lake Worth, Florida 33462, United States
$2,490,000
$24/SF
Building Size
100,188 SF
Asset Type
Development Site
Closing
Jun 15, 2022
About this deal
AI
1715 N Dixie Hwy in Lake Worth has been sold for $2,490,000. The property is a development site with a square footage of 100,188. The price per square foot for the transaction is $25, and the building square footage is 125,000 with a price per building square foot of $20.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,490,000
- Address: 1715 N Dixie Hwy
- Market: Lake Worth
The buyer of the property is Enrique Teran and Andres Korda from Avanti Way Group, along with Ricardo Hernandez from Office America Group. They were represented by their respective agency representatives. The seller in this transaction is the Lake Worth Beach Community Redevelopment Agency (CRA).
Players
Lake Worth Beach Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.37%
Cash-on-Cash
-1.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93