Italo Balbi & Ashley Bosch Acquire Development Site In Miami For $3.3M
SOLD
$3,300,000
Florida
See Similar DealsDevelopment Site30,000 SF
Sold 12/19/2023
SOLD
Italo Balbi & Ashley Bosch Acquire Development Site In Miami For $3.3M
413 Northwest 3rd Street & 421 Northwest 3rd Street
See Similar DealsDevelopment Site30,000 SF
Sold 12/19/2023
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$110
Total Square Footage:30,000 SF
Transaction Type:Sale
A development site located at 413-421 Northwest 3rd Street in Miami has been sold for $3,300,000. The property spans 15,000 square feet, resulting in a price per square foot of $220.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,300,000
- Address: 413-421 Northwest 3rd Street, Miami
- Market: Miami
- Buyer: Italo Balbi & Ashley Bosch
- Seller: Ariel Gorelik
- Seller's Rep: Cecilia Estevez & Mika Mattingly - Colliers International
- Square Footage: 15,000 sqft
- Price per Square Foot: $220
Italo Balbi and Ashley Bosch have acquired the property from Ariel Gorelik. Represented by Cecilia Estevez and Mika Mattingly of Colliers International, the buyers successfully closed the deal for this development site in Miami.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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