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Evolve Companies Acquires Development Site In Miami For $8.975M

Property Image
SOLD
$8,975,000
Martin Bravo
Jamie Rose Maniscalco
Thano Mazas

Florida

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Development Site
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Property Image
SOLD

Evolve Companies Acquires Development Site In Miami For $8.975M

475 Northwest 36th Street

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Development Site
Sold
Martin Bravo
Jamie Rose Maniscalco
Thano Mazas
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

A development site located at 475 Northwest 36th Street in Miami has been sold in a closed transaction. The sale took place on 12/08/2022, with a sale price of $8,975,000. The site has a total square footage of 30,685, resulting in a price per square foot of $292.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $8,975,000
  • Address: 475 Northwest 36th Street, Miami

Michael P. Winstead, representing Evolve Companies, acted as the buyer in this transaction. Carlos Escobedo Lopez served as the seller. The sale was facilitated by the brokers Thano Mazas, Jamie Rose Maniscalco, Martin Bravo, and APEX Capital Realty.

Players

Jamie Rose Maniscalco
The Alpha Commercial
Jamie Rose Maniscalco
53 deals$192M volume
BROKER
Martin Bravo
APEX Capital Realty
Martin Bravo
8 deals$28.6M volume
BROKER
Thano Mazas
Mazi Realty
Thano Mazas
5 deals$60.5M volume(727) 698-2626
BROKER
EC
Evolve Companies
BUYER

Details

SOLD
IMAGE: Thano Mazas, Jamie Rose Maniscalco & Martin Bravo DATE: 12/08/2022 ADDRESS: 475 Northwest 36th Street MARKET: Miami ASSET TYPE: Development Site BUYER: Michael P. Winstead - Evolve Companies SELLER: Carlos Escobedo Lopez BROKERS: Thano Mazas (@thanomazas) , Jamie Rose Maniscalco (@Jamie_r0se), @Land_deals) & Martin Bravo (@MrtnBrvo) - APEX Capital Realty (@ApexCapitalRealty) SALE PRICE: $8,975,000 SF: 30,685 ~ PPSF: $292

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,886.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,546.08
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