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3100 Southwest 145th Avenue...

Trammell Crow Residential Acquires Development Site In Miramar For $9.75M
SOLDDevelopment Site

Trammell Crow Residential Acquires Development Site In Miramar For $9.75M

3100 Southwest 145th Avenue, Miami, FL 33175

$9,750,000

$25/SF

Building Size

389,862 SF

Asset Type

Development Site

Closing

Nov 12, 2021

AI

The recently closed property transaction in Miramar involved the sale of a development site located at 3100 SW 145th Avenue. The site, spanning 389,862 square feet, was sold by Workspace Property Trust to the buyer, Trammell Crow Residential. The transaction was facilitated by brokers Mark M. Rubin and Keith O'Donnell from Avison Young.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $9,750,000
  • Address: 3100 SW 145th Avenue
  • Market: Miramar
  • Buyer: Trammell Crow Residential
  • Seller: Workspace Property Trust
  • Brokers: Mark M. Rubin & Keith O'Donnell - Avison Young
  • Units: 250
  • Price Per Unit: $39,000
  • Building Square Footage: 389,862
  • Price Per Building Square Foot: $25

The sale of this development site presents an opportunity for Trammell Crow Residential to cultivate and create a new residential project in Miramar. With the expertise and support of the brokers Mark M. Rubin and Keith O'Donnell from Avison Young, the buyer can navigate the real estate market and develop a thriving community in this rapidly growing area.

Players

Mark M. Rubin

Colliers

Broker

$896.8M

vol

37 deals

Broker
TR
Trammell Crow ResidentialBuyer
WT
Workspace Property TrustSeller

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

1.63%

Cash-on-Cash

-0.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93