Updated Mar 6, 2025
Michelle & Joel Rodriguez - Global Investments Realty Sell Development Site In Edgewater, Miami For $6M
483 NE 29 St, Miami, Florida 33137, United States
$6,000,000
$333/SF
Building Size
18,000 SF
Asset Type
Development Site
Closing
Jan 11, 2022
About this deal
AI
A development site located at 501 NE 29 St, 485 NE 29 St, and 483 NE 29 St in Edgewater, Miami, has been sold for a price of $6,000,000. The property spans 18,000 square feet and has a price per square foot of $333. With a building square footage of 216,000, the price per buildable square foot is $28.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,000,000
- Market: Edgewater, Miami
- Seller: Michelle & Joel Rodriguez - Global Investments Realty
The seller of the property is Michelle & Joel Rodriguez, represented by Global Investments Realty. The transaction date was January 11, 2022. Joel Rodriguez captured an image of the property, which can be seen on Instagram.
On the Map
$6,000,000
$333/SF
Development Site
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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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93