UOVO Acquires Development Site In Allapattah, South Miami For $4.15M
SOLD
$4,150,000
Florida
See Similar DealsDevelopment Site4,604 SF
Sold 07/09/2020
SOLD
UOVO Acquires Development Site In Allapattah, South Miami For $4.15M
3121 Northwest 7th Avenue, Miami, FL, USA
See Similar DealsDevelopment Site4,604 SF
Sold 07/09/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$901
Total Square Footage:4,604 SF
Transaction Type:Sale
A development site located at 3121 NW 7th Ave in Allapattah, South Miami has been sold for $4,150,000. The property was listed for the same price. The transaction took place on July 9, 2021, and involved UOVO, represented by Steve Gutman and Steve Novenstein, as the buyer and Babba Joshua Yesharim as the seller. The brokerage for this deal was handled by Agustin Duarte from REMAX 360.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,150,000
- Address: 3121 NW 7th Ave
- Market: Allapattah, South Miami
The deal was closed between UOVO, led by Steve Gutman and Steve Novenstein, and Babba Joshua Yesharim. Agustin Duarte from REMAX 360 served as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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