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3370 Florida Avenue

Pablo Ehlers Recio Acquires Townhome Development Site On Florida Avenue In Miami For $1.65M
SOLDDevelopment Site

Pablo Ehlers Recio Acquires Townhome Development Site On Florida Avenue In Miami For $1.65M

3370 Florida Avenue & 3380 Florida Avenue

$1,650,000

$82/SF

Building Size

20,000 SF

Asset Type

Development Site

Closing

Jan 2, 2024

AI

A townhome development site located at 3370 & 3380 Florida Avenue in Miami has been sold in a recent transaction. The property spans 10,000 square feet, with a price per square foot of $165, resulting in a total sale price of $1,650,000.

Summary of transaction details

  • Property Type: Townhome Development Site
  • Transaction Amount: $1,650,000
  • Address: 3370 & 3380 Florida Avenue, Miami
  • Square Footage: 10,000
  • Price per Square Foot: $165

Pablo Ehlers Recio has acquired the property from Peter C. Gardner. Jonathan De LaRosa, Eduardo Toledo, and Carolina Cuadra from Marcus & Millichap represented the buyer, while Eddie Bustamante from Silver Bluff Real Estate represented the seller in the transaction.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$659M

vol

145 deals

Broker

Peter Gardner

Abbhi Capital

Seller

$24.2M

vol

3 deals

Seller

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

9.61%

Cash-on-Cash

-2.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93