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330 Northeast 71st Street, ...

Mallory Kauderer Sells Development Site In Miami For $5.8M
SOLDDevelopment Site

Mallory Kauderer Sells Development Site In Miami For $5.8M

330 Northeast 71st Street, Miami, Florida 33138, United States

$5,800,000

$133/SF

Building Size

43,500 SF

Asset Type

Development Site

Closing

May 31, 2022

AI

A development site in Miami, located at 330, 320, 300 NE 71st Street, 7001, 7031 NE 3rd Ave & 315 NE 70th Street, has been sold for $5,800,000. The property was sold by Mallory Kauderer and the transaction was facilitated by Morgan Blittner of Brown Harris Stevens Miami. The development site spans approximately 43,500 square feet and has a price per buildable square foot (PPBSF) of $133.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $5,800,000
  • Address: 330, 320, 300 NE 71st Street, 7001, 7031 NE 3rd Ave & 315 NE 70th Street
  • Market: Miami
  • Seller: Mallory Kauderer
  • Broker: Morgan Blittner - Brown Harris Stevens Miami
  • BSF: 43,500 square feet
  • PPBSF: $133

Morgan Blittner, representing Brown Harris Stevens Miami, assisted in the sale of this development site situated in Miami. The transaction showcases the strong demand for development opportunities in the area, with a price per buildable square foot of $133. The involvement of experienced brokers like Morgan Blittner highlights the expertise needed to navigate successful property sales in the Miami market.

Players

Morgan Blittner

Brown Harris Stevens

Broker

$66.3M

vol

9 deals

Broker

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