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Ash Bhardwaj Of Onx Homes Acquires Development Site In Boynton Beach For $3.25 Million

Property Image
SOLD
$3,250,000
Ryan Wold
Zack McNamara
+ 1

Florida

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Development Site
Sold 02/04/2025
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Property Image
SOLD

Ash Bhardwaj Of Onx Homes Acquires Development Site In Boynton Beach For $3.25 Million

4280 Hypoluxo Road

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Development Site
Sold 02/04/2025
Ryan Wold
Zack McNamara
+ 1
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

Ash Bhardwaj from Onx Homes has acquired a fully entitled development site located at 4280 Hypoluxo Road in Boynton Beach. The site spans five acres and was purchased from Sidney Miller of Miller Property Invest LLC for a total of $3,250,000.

Summary of transaction details:

This transaction involved multiple representatives from Franklin Street, specifically Dan Dratch, Ethan Krauss, Ryan Wold, and Zack McNamara. Onx Homes is expanding its operations beyond its current projects in Miami-Dade and Central Florida, but has not disclosed specific plans for the 40-townhouse development on this site.

Players

Dan Dratch
48 deals$267.8M volume
BROKER

Ryan Wold
Franklin Street
40 deals$210.5M volume(954) 312-1678
BROKER

Zack McNamara
Franklin Street
2 deals$6.7M volume
BROKER

Ethan Krauss
Marcus & Millichap
21 deals$69.6M volume(954) 245-3503
BROKER

Details

SOLD
IMAGE: Dan Dratch, Ash Bhardwaj, Ethan Krauss, Zack McNamara & Ryan Wold DATE: 02/04/2025 ADDRESS: 4280 Hypoluxo Road MARKET: Boynton Beach ASSET TYPE: Development Site ~ ACRES: 5 BUYER: Ash Bhardwaj - Onx Homes SELLER: Sidney Miller - Miller Property Invest LLC BROKERS: Dan Dratch (@DanDratch), Ethan Krauss (@EthanKrauss), Ryan Wold (@DJSunsett) & Zack McNamara (@ZMaccc) - Franklin Street (@FranklinStreet.CRE) SALE PRICE: $3,250,000 NOTE: Onx Homes bought a five-acre, fully entitled development site in Boynton Beach for $3.25 million from Miller Property Invest LLC, with Franklin Street brokering the deal. The prefabricated homebuilder, expanding beyond its Miami-Dade and Central Florida projects, has not disclosed plans for the 40-townhouse site.

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

$173,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,546.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,406.66
Annual Debt Service$184,879.90