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Omni CRA Acquires Development Site At 41 Northwest 20th Street For $5.795M

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SOLD
$5,750,000

Florida

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Development Site5,594 SF
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Omni CRA Acquires Development Site At 41 Northwest 20th Street For $5.795M

41 Northwest 20th Street

See Similar Deals
Development Site5,594 SF
Sold
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$1027
Total Square Footage:5594 SF
Transaction Type:Sale

The property involved in this transaction is a development site located at 41 Northwest 20th Street in the Miami market. The sale price was $5,795,000, with a building square footage of 4,797 and a price per square foot of $1,208. The lot size is 15,600 square feet, translating to a price per lot square foot of $371.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $5,795,000
  • Building Square Footage: 4,797
  • Price Per Square Foot: $1,208
  • Lot Size: 15,600
  • Price Per Lot Square Foot: $371
  • Buyer: Omni CRA
  • Seller: Doug Levine
  • Buyer's Representative: Alejandro Snyder & Michael Williams - CURRENT RE Advisors
  • Seller's Representative: Jonathan Eismann - Gridline Properties
  • Date of Transaction: 09/20/2024

This transaction featured key representatives in the real estate sector. Alejandro Snyder and Michael Williams represented the buyer, Omni CRA, through CURRENT RE Advisors, while Jonathan Eismann represented the seller, Doug Levine, with Gridline Properties.

Players

Alejandro Snyder
16 deals$85M volume(305) 783-8890
BROKER

Michael B Williams
Current Real Estate Advisors
14 deals$57M volume
BROKER

Jonathan Eismann
Gridline Properties
36 deals$90.8M volume(305) 507-7098
BROKER

Details

SOLD
IMAGE: Alejandro Snyder, Jonathan Eismann & Michael Williams DATE: 09/20/2024 ADDRESS: 41 Northwest 20th Street MARKET: Miami ASSET TYPE: Development Site BUYER: Omni CRA SELLER: Doug Levine BUYER'S REP: Alejandro Snyder (@AlejandroSnyder1) & Michael Williams - CURRENT RE Advisors (@CurrentRealEstate) SELLER'S REP: Jonathan Eismann (@JonEismann) - Gridline Properties (@GridlineProperties) SALE PRICE: $5,795,000 BSF: 4,797 ~ PPSF: $1,208 Lot SF: 15,600 ~ PP Lot SF: $371

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$306,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,428.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,257.93
Annual Debt Service$327,095.20