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Horacio Ferrando Acquires Development Site From Jerry Fernandez In Miami For $1M

Property Image
SOLD
$1,000,000
Deme Mekras
Claudio Forgione

Florida

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Development Site
Sold 05/09/2024
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Property Image
SOLD

Horacio Ferrando Acquires Development Site From Jerry Fernandez In Miami For $1M

3728 Northwest 19th Avenue

See Similar Deals
Development Site
Sold 05/09/2024
Deme Mekras
Claudio Forgione
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

The Tropic Place development site, located at 3728 Northwest 19th Avenue in Miami, has been sold for $1,000,000. The property spans 14,585 square feet with a price per square foot of $69. The site is situated in Allapattah, within walking distance to the MetroRail, and comes with complete construction drawings, paid impact fees, and building permits, making it shovel ready.

Summary of transaction details:

Claudio Forgione represented the buyer, Horacio Ferrando, in this transaction. Deme Mekras, from MSP Group, acted as the seller's representative. The deal has now been successfully closed, marking another successful sale for MSP Group.

Players

Deme Mekras
MSP Group
Deme Mekras
32 deals$270.5M volume(786) 208-2684
BROKER
Claudio Forgione
Claudio Forgione
4 deals$14.7M volume
BROKER

Details

SOLD
IMAGE: Horacio Ferrando, Deme Mekras & Claudio Forgione DATE: 05/09/2024 ADDRESS: 3728 Northwest 19th Avenue MARKET: Miami ASSET TYPE: Development Site BUYER: Horacio Ferrando SELLER: Jerry Fernandez BUYER'S REP: Claudio Forgione SELLER'S REP: Deme Mekras - MSP Group (@MSPGroup_LLC) SALE PRICE: $1,000,000 BSF: 14,585 ~ PPBSF: $69 NOTE FROM SELLER'S REP: CLOSED!!! MSP Group is pleased to announce our latest closing of the Tropic Place development site located at 3728 NW 19th Avenue. Located in Allapattah, walking distance to the MetroRail, Tropic Place is a unique opportunity with complete construction drawings, paid impact fees, and building permits in hand, it's truly shovel ready! It was a pleasure to cooperate with and on this sale! If you're searching for more commercial real estate deals, visit our website to explore our updated listings: https://www.mspgroup.com/exclusive-listings/ For more details, contact Deme Mekras at [email protected] and (786) 208-2684.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
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