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5838 Alton Road

Updated Sep 5, 2024

Antonio Ortiz Acquires Development Site In Miami Beach For $1.3M
SOLDDevelopment Site

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

About this deal

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.

Players

Gabriel Baratto

Coldwell Banker

Broker

$36.4M

vol

13 deals

Broker

Miami Beach Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Deal FAQ

About $179 per square foot on a published $1.3M for 7,225 square feet (2022).

Visit Gabriel Baratto to view all their deals.

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

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