Evolve Companies Acquires Development Site In Miami For $9.8M
SOLD
$9,800,000
Florida
See Similar DealsDevelopment Site
Sold 09/06/2022
SOLD
Evolve Companies Acquires Development Site In Miami For $9.8M
543 Northwest 35th Street, Miami, Florida 33127, United States
See Similar DealsDevelopment Site
Sold 09/06/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 543, 553, 579, 583, 585 & 535-539 Northwest 35th Street in Miami has been sold. The transaction took place on 09/06/2022, and the property was purchased for a total of $9,800,000. The buyers of the property are Evolve Companies, represented by Mike Winstead Jr. and Joe McKinney. The sellers of the property are Mery Najera Dominguez, Julian Diaz, and Juan Diego Estrada. The deal was facilitated by Fabio & Sebastian Faerman from FA Commercial - Fortune International Realty. The lender involved in the transaction is First Carolina Bank.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $9,800,000
- Buyer: Evolve Companies - Mike Winstead Jr. & Joe McKinney
- Seller: Mery Najera Dominguez, Julian Diaz & Juan Diego Estrada
- Brokers: Fabio & Sebastian Faerman - FA Commercial - Fortune International Realty
- Lender: First Carolina Bank
The property acquisition was led by Evolve Companies, with Mike Winstead Jr. and Joe McKinney at the helm. Fabio and Sebastian Faerman from FA Commercial - Fortune International Realty represented both the buyer and the sellers in the transaction. First Carolina Bank provided the financing for the deal. The development site, located in Miami, offers significant potential for future development and growth.
Players
BROKERAGE
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$522,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,817.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,457.00
Annual Debt Service$557,484.00
Is there something missing? Send suggestions