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
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