Enrique Manhard Acquires Development Site In Miami From Advance Auto Parts For $12M
SOLD
$12,000,000
Florida
See Similar DealsDevelopment Site21,366 SF
Sold 01/18/2024
SOLD
Enrique Manhard Acquires Development Site In Miami From Advance Auto Parts For $12M
1925 Northeast 2nd Avenue
See Similar DealsDevelopment Site21,366 SF
Sold 01/18/2024
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$561
Total Square Footage:21,366 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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