Irvin Pena Purchases Development Site From Candice Seward In Marco Island For $1.325M
275 Rockhill Court
$1,325,000
$121/SF
Building Size
10,890 SF
Asset Type
Development Site
Closing
Oct 15, 2024
AI
The property involved in this transaction is a development site located at 275 Rockhill Court in Marco Island. The sale price for this asset was $1,325,000, spanning a total area of 10,890 square feet, resulting in a price per square foot of $121.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,325,000
- Address: 275 Rockhill Court
- Market: Marco Island
- Square Footage: 10,890
- Price Per Square Foot: $121
- Buyer: Irvin Pena
- Seller: Candice Seward
- Brokers: Michael Fernandez & Mario Fernandez - M2 Commercial Realty - Florida Realty of Miami
Michael and Mario Fernandez successfully facilitated this transaction, highlighting their expertise in connecting buyers and sellers in the competitive Marco Island market. The brokers utilized their extensive network to identify the buyer, Irvin Pena, for this waterfront development site.
Players
Marco Island 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
11.97%
Cash-on-Cash
-3.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93