CC Homes Acquires Development Site In Southwest Ranches For $11.5M
SOLD
$11,500,000
Florida
See Similar DealsDevelopment Site3,436 SF
Sold 12/21/2020
SOLD
CC Homes Acquires Development Site In Southwest Ranches For $11.5M
4751 Southwest 160th Avenue, Southwest Ranches, FL, USA
See Similar DealsDevelopment Site3,436 SF
Sold 12/21/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$3,346
Total Square Footage:3,436 SF
Transaction Type:Sale
A development site in Southwest Ranches has been sold for $11,500,000. The property, located at 4751 Southwest 160th Avenue, 15900 & 15990 Griffin Road, spans 47 acres. With a price per acre of $244,681, the site presents a significant opportunity for development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,500,000
- Address: 4751 Southwest 160th Avenue, 15900 & 15990 Griffin Road
- Market: Southwest Ranches
The buyer of the property is CC Homes represented by Armando Codina & Jim Carr. The seller is Pat Fuccile. This deal was finalized on 12/21/2020, and the transaction showcases the potential of the development site in Southwest Ranches.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$613,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,515.87
Annual Debt Service$654,190.40
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