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220 South Island Road

Michael Klinger Acquires Development Site In Golden Beach For $9.25M
SOLDDevelopment Site

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:

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

Jill Hertzberg

Coldwell Banker

Broker

$2.4B

vol

92 deals

Broker

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