Severino Puente & Marcos Puente Acquire Homestead Development Site From David Lai For $1.28M
SOLD
$1,283,015
Florida
See Similar DealsDevelopment Site408,592 SF
Sold 06/16/2023
SOLD
Severino Puente & Marcos Puente Acquire Homestead Development Site From David Lai For $1.28M
19900 W Mowry Dr Homestead, FL 33030, USA
See Similar DealsDevelopment Site408,592 SF
Sold 06/16/2023
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$3
Total Square Footage:408,592 SF
Transaction Type:Sale
A development site located at 19900 West Mowry Drive in Homestead has been sold for a total price of $1,283,015. The property spans across an area of 408,592 square feet, resulting in a price per square foot of $3.14. Additionally, the site covers an impressive 9.38 acres, with a price per acre of $136,782.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,283,015
- Address: 19900 West Mowry Drive, Homestead
- Market: Homestead
- Square Footage: 408,592
- Price per Square Foot: $3.14
- Acres: 9.38
- Price per Acre: $136,782
The buyers of this property are Severino Puente and Marcos Puente, while the seller is David Lai. It is noteworthy that the buyers have expressed their intention to utilize the site for cultivating a significant number of mango trees, highlighting their agricultural plans for the land.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$68,427.48
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,558.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,082.15
Annual Debt Service$72,985.75
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