Antonio Ortiz Acquires Development Site In Miami Beach For $1.3M
5838 Alton Road
$1,300,000
$179/SF
Building Size
7,225 SF
Asset Type
Development Site
Closing
Apr 22, 2022
AI
The development site located at 5838 Alton Rd in Miami Beach has been sold in a recent transaction. The property spans across 7,225 square feet and was sold for a total price of $1,300,000, resulting in a price per square foot of $180.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,300,000
- Address: 5838 Alton Rd, Miami Beach
- Square Footage: 7,225
- Buyer: Antonio Ortiz
- Seller: Josef Timlichman
- Buyer's Representative: Gabriel Baratto - Coldwell Banker Realty, Coldwell Banker Florida
The buyer, Antonio Ortiz, completed the purchase of the development site from the seller, Josef Timlichman. Assisting Antonio Ortiz in the transaction was his representative, Gabriel Baratto from Coldwell Banker Realty, Coldwell Banker Florida. This transaction signifies the acquisition of a valuable development site in Miami Beach, presenting opportunities for future development in a vibrant market.
Miami Beach 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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93