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501 West Dania Beach Boulev...

David Gorson Acquires Development Site In Dania Beach For $1.395M
SOLDDevelopment Site

David Gorson Acquires Development Site In Dania Beach For $1.395M

501 West Dania Beach Boulevard, Dania Beach, Florida 33004, United States

$1,395,000

$42/SF

Building Size

32,549 SF

Asset Type

Development Site

Closing

Jul 7, 2022

AI

A development site located at 501 W Dania Beach Blvd in Dania Beach has been sold for a price of $1,395,000. The property spans 32,549 square feet, with a price per square foot of $43. The buyer of the site is David Gorson, while the seller is Shlomo Melloul. The transaction took place on 07/08/2022.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,395,000
  • Address: 501 W Dania Beach Blvd
  • Market: Dania Beach

The deal was facilitated by brokers Quinn Sousa, Shelly Argy, and Ryan Shaw from Marcus & Millichap. They represented the buyer and seller in this transaction.

Players

Ryan Shaw

Marcus & Millichap

Broker

$145.7M

vol

22 deals

Broker

David Gorson

Buyer

$5.5M

vol

2 deals

Buyer

Shlomo Melloul

Seller

$12.7M

vol

3 deals

Seller

Dania 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

11.37%

Cash-on-Cash

-3.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93