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2400 Okeechobee Road

Joey Dornbusch Acquires Hialeah Development Site For $5.68M
SOLDDevelopment Site

Joey Dornbusch Acquires Hialeah Development Site For $5.68M

2400 Okeechobee Road

$5,680,000

Building Size

Asset Type

Development Site

Closing

Jan 27, 2023

AI

A development site located at 2400 Okeechobee Road in Hialeah has been sold in a recent transaction. The property, with a lot size of 90,158 square feet, was sold for a total price of $5,680,000. The price per square foot (PPLSF) was calculated to be $63. The transaction took place on January 27, 2023.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $5,680,000
  • Lot Size: 90,158 square feet
  • Price per Square Foot (PPLSF): $63
  • Address: 2400 Okeechobee Road, Hialeah

In this transaction, the buyer was Joey Dornbusch, while the seller was James McCarthy. The deal was facilitated by broker Jorge Ruiz from Premier Properties.

Players

Jorge Ruiz

Premier Properties

Broker

$27.8M

vol

5 deals

Broker

Hialeah 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

2.79%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93