Babba Joshua Yesharim Acquires Development Site In Miami River District For $4.7M
613 Northwest 10th Avenue
$4,725,000
$173/SF
Building Size
27,188 SF
Asset Type
Development Site
Closing
Jan 2, 2024
AI
A development site located at 613 Northwest 10th Avenue in the Miami River District / Riverside has been sold for a total price of $4,725,000. The property spans an area of 27,188 square feet, resulting in a price per square foot of $174.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,725,000
- Address: 613 Northwest 10th Avenue
- Market: Miami River District / Riverside
The buyer of the development site is Babba Joshua Yesharim, while the seller is Francicso Rodriguez Melo. The deal was facilitated by two brokers. John Lonardo from NAI Miami represented the buyer, and Ray Borr from Cedano Realty Advisors represented the seller.
Players
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
3.36%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93