Updated Dec 21, 2023
Amalfi Gayosso Acquires Development Site In Allapattah For $3.6M
2950 NW 7 Ave, Miami, Florida 33127, United States
$3,600,000
$85/SF
Building Size
42,000 SF
Asset Type
Development Site
Closing
Dec 10, 2021
About this deal
AI
A development site located at 2950 NW 7 Avenue in Allapattah has been sold in a recent transaction. The property encompasses a total of 42,000 square feet, with a price per square foot of $86. The sale included 120 units, with a price per unit of $30,000. The transaction took place on December 10, 2021, with an asking price of $3,600,000 and a final sale price of $3,600,000.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $3,600,000
- Address: 2950 NW 7 Avenue, Allapattah
- Market: Allapattah
- Broker: Agustin Duarte - REMAX 360
Amalfi Gayosso acquired the property from Raul Rodriguez in this transaction. Agustin Duarte from REMAX 360 represented both parties as the broker. This marks the fifth closed deal on NW 7th Avenue for REMAX 360.
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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93