Updated Dec 19, 2023
Benito Irastorza Acquires Development Site In West Flagler From Gilberto Padin
4200 Southwest 3rd Street, West Flagler, Miami, FL, USA
$2,125,000
$110/SF
Building Size
19,300 SF
Asset Type
Development Site
Closing
Oct 28, 2021
About this deal
AI
Located in the West Flagler market, a development site at 4200 SW 3 Street has been sold in a recent transaction. The property spans an area of 19,300 square feet, with a sale price of $2,125,000. The price per square foot is calculated at $110. Additionally, the property has a buildable square footage of 69,000, resulting in a price per buildable square foot of $31.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,125,000
- Address: 4200 SW 3 Street
- Market: West Flagler
The buyer in this transaction is Benito Irastorza, while the seller is Gilberto Padin. Representing the deal were Agustin Duarte and Billy Planes of REMAX 360. They facilitated the successful sale of the property at the full asking price of $2,125,000. The transaction closed on October 28, 2021.
On the Map
$2,125,000
$110/SF
Development Site
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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
7.46%
Cash-on-Cash
-2.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93