Michael Klinger Acquires Development Site In Golden Beach For $9.25M
220 South Island Road
$9,250,000
$659/SF
Building Size
14,025 SF
Asset Type
Development Site
Closing
Apr 4, 2024
AI
Located in Golden Beach, the development site at 220 South Island Road has been sold for $9,250,000. Spanning 14,025 square feet, the property was acquired by Michael Klinger from the seller, Donna Smith. The deal was facilitated by brokers Jonathan Mann and Jill Hertzberg from Coldwell Banker.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $9,250,000
- Address: 220 South Island Road
- Market: Golden Beach
- Buyer: Michael Klinger - Saber South
- Seller: Donna Smith
- Brokers: Jonathan Mann & Jill Hertzberg - Coldwell Banker
- SF: 14,025
- Price Per Square Foot: $660
Michael Klinger of Saber South emerged as the buyer in this transaction, while Donna Smith acted as the seller. The negotiation process was handled by Jonathan Mann and Jill Hertzberg of Coldwell Banker, showcasing their expertise and professionalism in closing the deal smoothly.
Players
Golden Beach 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
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93