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3000 Northwest 73rd Street,...

Terreno Realty Corp. Acquires Development Site In Miami For $5.8M
SOLDDevelopment Site

Terreno Realty Corp. Acquires Development Site In Miami For $5.8M

3000 Northwest 73rd Street, Miami, FL 33147

$5,800,000

$45/SF

Building Size

128,844 SF

Asset Type

Development Site

Closing

Apr 6, 2021

AI

A development site located at 3000 NW 73rd Street in Miami has been sold for $5,800,000. The property spans across 5.8 acres, resulting in a price per acre of approximately $1,000,000. This transaction took place on April 7, 2021.

Summary of Transaction Details:

  • Property Type: Development Site
  • Transaction Amount: $5,800,000
  • Address: 3000 NW 73rd Street, Miami
  • Market: Miami
  • Buyer: Terreno Realty Corp. - W. Blake Baird & Michael A. Coke
  • Acres: 5.8
  • Price per Acre: $1,000,000
  • Date: April 7, 2021

Terreno Realty Corp., represented by W. Blake Baird and Michael A. Coke, acquired the development site at 3000 NW 73rd Street in Miami for a total price of $5,800,000. This purchase encompasses 5.8 acres of land, resulting in a price per acre of approximately $1,000,000. The transaction was completed on April 7, 2021.

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

2.73%

Cash-on-Cash

-0.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93