Updated Sep 9, 2024
FA Commercial Facilitates $6.5M Off-Market Sale Of Development Site In Edgewater
230 NE 33rd St Miami, FL 33137, USA
$6,500,000
$471/SF
Building Size
13,800 SF
Asset Type
Development Site
Closing
Jul 19, 2023
About this deal
AI
A 13,800 square foot development site located at 230-246 NE 33rd Street in Edgewater has been sold for $6,500,000. The property, situated in an Opportunity Zone, was successfully off-market. The selling price equates to a price per square foot of $471.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,500,000
- Square Footage: 13,800
- Address: 230-246 NE 33rd Street
- Market: Edgewater
Fabio Faerman and Sebastian Faerman of FA Commercial represented the seller in this transaction. FA Commercial is a leading broker in the area and specializes in off-market deals and land for development. For more information on available off-market deals or land for development, interested parties can visit their website at facommercial.com.
Players
Miami 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93