Updated Oct 28, 2024
City Electric Supply Company Acquires Development Site In Miami From Babba Yesharim
3501 Northwest 2nd Avenue, Miami, Florida 33127, United States
$3,500,000
$368/SF
Building Size
9,500 SF
Asset Type
Development Site
Closing
Apr 12, 2022
About this deal
AI
A development site located at 3501 NW 2 Ave and 187 NW 35th St in Miami has been sold for $3,500,000. The property spans approximately 9,500 square feet and has a price per buildable square foot (PPBSF) of $368. The transaction took place on April 13, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,500,000
- Buyer: City Electric Supply Company
- Seller: Babba Yesharim
- Broker: Virgilio Fernandez - Colliers
- Address: 3501 NW 2 Ave and 187 NW 35th St, Miami
- Market: Miami
- BSF: 9,500
- PPBSF: $368
City Electric Supply Company acquired the development site from the seller, Babba Yesharim. The transaction was facilitated by Virgilio Fernandez from Colliers.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93