Orchard Holding Invest Group Sells Development Site In Miami For $6.2M With Buyer's Rep Alex Cesar - CBRE
SOLD
$6,200,000
Florida
See Similar DealsDevelopment Site3,163 SF
Sold 07/12/2022
SOLD
Orchard Holding Invest Group Sells Development Site In Miami For $6.2M With Buyer's Rep Alex Cesar - CBRE
20 Northeast 41st Street
See Similar DealsDevelopment Site3,163 SF
Sold 07/12/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$1,960
Total Square Footage:3,163 SF
Transaction Type:Sale
The development site located at 20 NE 41st St in Miami has been sold for a price of $6,200,000. The property spans a total of 3,163 square feet, equating to a price per square foot of $1,960. The buyer's representative in the deal was Alex Cesar from CBRE, while Tony Arellano and Devlin Marinoff from DWNTWN Realty Advisors, LLC represented the seller, Orchard Holding Invest Group.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,200,000
- Square Footage: 3,163
- Price per Square Foot: $1,960
- Buyer's Representative: Alex Cesar - CBRE
- Seller's Representatives: Tony Arellano & Devlin Marinoff - DWNTWN Realty Advisors, LLC
The sale of this development site in Miami was facilitated by a team of experienced real estate professionals. Alex Cesar from CBRE acted as the representative for the buyer, ensuring their interests were protected throughout the transaction. On the other side, Tony Arellano and Devlin Marinoff from DWNTWN Realty Advisors, LLC served as the seller's representatives, working diligently to secure a successful deal for Orchard Holding Invest Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$330,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,027.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,391.16
Annual Debt Service$352,693.96
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