Babba Joshua Yesharim Acquires Development Site In Miami River District For $4.7M
SOLD
$4,725,000
Florida
See Similar DealsDevelopment Site27,188 SF
Sold 01/02/2024
SOLD
Babba Joshua Yesharim Acquires Development Site In Miami River District For $4.7M
613 Northwest 10th Avenue
See Similar DealsDevelopment Site27,188 SF
Sold 01/02/2024
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$173
Total Square Footage:27,188 SF
Transaction Type:Sale
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
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$252,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,786.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,398.91
Annual Debt Service$268,786.93
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