Miguel Fernandez Acquires Development Site In Miami From Justin Cromartie David Sienema Ben Gettler For $2.8M
SOLD
$2,800,000
Florida
See Similar DealsDevelopment Site12,000 SF
Sold 08/19/2024
SOLD
Miguel Fernandez Acquires Development Site In Miami From Justin Cromartie David Sienema Ben Gettler For $2.8M
3411 Northwest 5th Avenue
See Similar DealsDevelopment Site12,000 SF
Sold 08/19/2024
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$233
Total Square Footage:12,000 SF
Transaction Type:Sale
The property asset involved in this transaction is a development site located at 3411 Northwest 5th Avenue in Miami. The sale price was $2,800,000 for an area of 12,000 square feet, resulting in a price per square foot of $233.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,800,000
- Address: 3411 Northwest 5th Avenue
- Market: Miami
- Square Footage: 12,000
- Price Per Square Foot: $233
- Buyer: Miguel Fernandez
- Seller: Justin Cromartie, David Sienema & Ben Gettler
- Brokers: George Belesis & Rayza Perez - DWNTWN Realty Advisors
The key individuals involved in this deal include the buyer Miguel Fernandez and the sellers Justin Cromartie, David Sienema, and Ben Gettler. The transaction was facilitated by brokers George Belesis and Rayza Perez from DWNTWN Realty Advisors, representing the interests of the parties involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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