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450 Sabal Palm Road, Miami,...

Marissa Nunez Sells Bay Point Estates Development Site For $2.7M With Buyer's Rep Julianna Castro & Seller's Rep Nicolas Vicente
SOLDDevelopment Site

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

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

Julianna Castro

Compass

Broker

$96.1M

vol

15 deals

Broker

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