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Ernest Popescu Of Metrobloks Acquires 4.05 Acre Development Site In Miami For $13.6M

Property Image
SOLD
$13,600,000
Carlos Gaviria
Stuart Gordon
Matthew Bittel

Florida

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Development Site
Sold 04/04/2025
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Property Image
SOLD

Ernest Popescu Of Metrobloks Acquires 4.05 Acre Development Site In Miami For $13.6M

500 Northwest 137th Avenue

See Similar Deals
Development Site
Sold 04/04/2025
Carlos Gaviria
Stuart Gordon
Matthew Bittel
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

A development site located at 500 Northwest 137th Avenue in Miami has been sold for $13,600,000. The site encompasses 4.05 acres, intended for the development of a data center measuring 116,045 square feet and possessing 15.2 megawatts of power capacity.

Summary of transaction details:

Metrobloks acquired the property from Sagard Real Estate, with Cushman & Wakefield acting on behalf of the buyer and Transwestern representing the seller in this transaction.

Players

Carlos Gaviria
Transwestern
Carlos Gaviria
5 deals$26.3M volume
BROKER
Stuart Gordon
Cushman & Wakefield
Stuart Gordon
3 deals$26.9M volume
BROKER
Matthew Bittel
Cushman & Wakefield
Matthew Bittel
3 deals$26.9M volume(305) 805-3032
BROKER

Details

SOLD
IMAGE: Carlos Gaviria, Richard W. Stone, Ernest Popescu, Matthew Bittel & Stuart Gordon DATE: 04/04/2025 ADDRESS: 500 Northwest 137th Avenue MARKET: Miami ASSET TYPE: Development Site ~ ACRES: 4.05 BUYER: Ernest Popescu - Metrobloks (@Metrobloks) SELLER: Richard W. Stone - Sagard Real Estate BUYER'S REP: Matthew Bittel & Stuart Gordon - Cushman & Wakefield (@CushWake) SELLER'S REP: Carlos Gaviria (@Carlos.m.Gaviria) - Transwestern (@Transwestern) SALE PRICE: $13,600,000 NOTE: Metrobloks acquired 4.05 acres near Sweetwater from Sagard Real Estate for $13.6M to develop a 116,045 SF, 15.2 MW data center. Cushman & Wakefield represented Metrobloks; Transwestern Real Estate Services represented Sagard.

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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)-$48,317.94
Cash-on-Cash Return-1.27%
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