Marissa Nunez Sells Bay Point Estates Development Site For $2.7M With Buyer's Rep Julianna Castro & Seller's Rep Nicolas Vicente
450 Sabal Palm Road, Miami, Florida 33137, United States
$2,700,000
$160/SF
Building Size
16,866 SF
Asset Type
Development Site
Closing
Feb 1, 2022
AI
Located at 450 Sabal Palm Road in Bay Point Estates, Miami, this development site was recently sold for a transaction amount of $2,700,000. The property spans 16,866 square feet, offering ample space for potential development. The price per buildable square foot (PPBSF) amounts to $160, presenting an attractive investment opportunity in the area.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,700,000
- Buyer's Representative: Julianna Castro - Compass
- Seller's Representative: Nicolas Vicente - City Group Consulting LLC
Julianna Castro, a representative from Compass, assisted the buyer, while Nicolas Vicente from City Group Consulting LLC represented the seller in this successful transaction. Their expertise in negotiation and market knowledge played a crucial role in ensuring a smooth deal for all parties involved.
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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93