SOLDDevelopment Site
Jose Canero & Justin Rundle Acquire Development Site In Miami For $2.05M
5215 Biscayne Blvd Miami, FL 33137, USA
$2,050,000
Building Size
—
Asset Type
Development Site
Closing
Jul 24, 2023
AI
Located at 5215 Biscayne Boulevard in Miami, this development site has been sold in a recent transaction. The property is spacious and offers great potential for development. The sale price for this asset was $2,050,000, reflecting its value in the market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,050,000
- Address: 5215 Biscayne Boulevard, Miami
Jose Canero and Justin Rundle are the buyers who acquired this property. They have plans to build 10 luxury townhomes on the site. Each townhome will boast its own private elevator, garage, and roof deck, offering luxurious amenities to the future residents. The buyer's vision for this property demonstrates their commitment to providing high-end housing options in the area.
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
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93