Updated Dec 4, 2024
Florida Capital Realty Facilitates $2.3M Sale Of Development Site In Islamorada
445 Palm Drive
$2,300,000
Building Size
—
Asset Type
Development Site
Closing
Oct 24, 2023
About this deal
AI
Located in Islamorada, the development site at 445 Palm Drive has recently been sold in a closed transaction. The sale, facilitated by Joseph Suarez of Florida Capital Realty, was finalized on October 24, 2023. The property was sold by Julio Colomba at a price of $2,300,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,300,000
- Seller: Julio Colomba
- Broker: Joseph Suarez - Florida Capital Realty
Joseph Suarez, representing Florida Capital Realty, played a crucial role in the successful sale of the development site at 445 Palm Drive in Islamorada.
Islamorada 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93