Updated Oct 13, 2026
Hanover Co. Acquires Development Site In Fort Lauderdale For $20M
477 Southwest 1st Avenue, Miami, Florida 33145, United States
$20,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 13, 2022
About this deal
AI
An acre of prime development land located at 477 SW First Ave in Fort Lauderdale has been sold for $20,000,000. The property offers great potential for future development with its spacious 1.54-acre size. This sale transaction took place on 03/14/2022.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $20,000,000
- Address: 477 SW First Ave
- Market: Fort Lauderdale
- Acres: 1.54
The buyer in this transaction is Hanover Co., represented by Brandt Bowden. With their expertise and vision, Hanover Co. sees the potential in this development site and aims to capitalize on the immense opportunities it offers. The purchase of this property marks a significant move for Hanover Co. as they expand their real estate portfolio in Fort Lauderdale.
On the Map
$20,000,000
Development Site
View full map
Players
Homestead Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Browse Homestead development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93