Updated Sep 9, 2024
Keith Wetzel Acquires Development Site On W Flagler St In Coral Gables For $6.75M
5402 West Flagler Street, Coral Gables, Florida 33134, United States
$6,750,000
$171/SF
Building Size
39,432 SF
Asset Type
Development Site
Closing
Sep 8, 2022
About this deal
AI
5402 W Flagler St in Coral Gables has been sold in a recently closed transaction. The property, categorized as a development site, was acquired by Keith Wetzel from seller Hector Castellon. The deal was facilitated by brokers Andros Sarduy of Synergy Realty Advisors and Joey Canero of Canero Group.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,750,000
- Address: 5402 W Flagler St
- Market: Coral Gables
- Buyer: Keith Wetzel
- Seller: Hector Castellon
- Brokers: Andros Sarduy - Synergy Realty Advisors; Joey Canero - Canero Group
- BSF (Building Square Footage): 179,000
- PPBSF (Price per Building Square Foot): $38
- SF (Square Footage): 39,432
- PPSF (Price per Square Foot): $171
The acquisition of 5402 W Flagler St was a significant transaction involving key individuals and companies. Keith Wetzel successfully purchased the property, and Hector Castellon acted as the seller. The deal was completed with the assistance of Andros Sarduy from Synergy Realty Advisors and Joey Canero from Canero Group.
On the Map
$6,750,000
$171/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93