SB Development & Hazleton Capital Acquire Development Site In Miami, FL For $12.2M
456 Northeast 29th Street, Miami, FL 33137
$12,200,000
$26/SF
Building Size
456,000 SF
Asset Type
Development Site
Closing
Jul 9, 2020
AI
A development site located at 456-496 NE 29th Street in Miami, FL has been sold for a price of $12,200,000. The property has a building square footage (BSF) of 456,000, resulting in a price per building square footage (PPBSF) of $26.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $12,200,000
- Address: 456-496 NE 29th Street, Miami, FL
- Market: Miami, FL
The buyer of the property is SB Development & Hazleton Capital, while the seller includes Global DC Export, Bernette Caliste, and Whitelight Group. The deal was facilitated by broker Tyler Tuchow.
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
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93