Enrique Manhard Acquires Development Site In Miami From Advance Auto Parts For $12M
1925 Northeast 2nd Avenue
$12,000,000
$561/SF
Building Size
21,366 SF
Asset Type
Development Site
Closing
Jan 18, 2024
AI
A development site located at 1925 Northeast 2nd Avenue in Miami has been sold for a price of $12,000,000. The site spans an area of 21,366 square feet, resulting in a price per square foot of $562. The transaction took place on January 18, 2024.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $12,000,000
- Square Footage: 21,366 SF
- Price per Square Foot: $562
- Market: Miami
The buyer in this transaction was Enrique Manhard, while the seller was Advance Auto Parts. The deal was facilitated by Estrella Perez from EP Realty Group, who represented the buyer as the broker.
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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93