South Properties II LLC Acquires Development Site In Coral Gables For $13.95M
SOLD
$13,950,000
Florida
See Similar DealsDevelopment Site166,070 SF
Sold 12/15/2019
SOLD
South Properties II LLC Acquires Development Site In Coral Gables For $13.95M
625 Leucadendra Drive, Coral Gables, FL, USA & 625 Leucadendra Drive
See Similar DealsDevelopment Site166,070 SF
Sold 12/15/2019
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$84
Total Square Footage:166,070 SF
Transaction Type:Sale
A development site located at 625 Leucadendra Drive in Coral Gables has been sold for $13,950,000. The property spans 83,035 square feet, resulting in a price per square foot of $168. The transaction took place on December 16, 2019.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $13,950,000
- Square Footage: 83,035
- Price Per Square Foot: $168
The seller, IFG Florida Inc., was represented by Francisco Gonzalez Perez. The buyer, South Properties II LLC, was represented by Carlos Correa Ballesteros. The brokers involved in the deal were Maurice Boschetti and Silvia Boschetti from Boschetti Realty Group, as well as Ralph Arias from One Sotheby's International Realty.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$744,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,561.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,130.12
Annual Debt Service$793,561.40
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