Elias Esber Acquires Key Biscayne Development Site For $8.5M
SOLD
$8,500,000
Florida
See Similar DealsDevelopment Site15,000 SF
Sold 07/01/2020
SOLD
Elias Esber Acquires Key Biscayne Development Site For $8.5M
630 South Mashta Drive, Key Biscayne, FL 33149, USA
See Similar DealsDevelopment Site15,000 SF
Sold 07/01/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$566
Total Square Footage:15,000 SF
Transaction Type:Sale
A development site located at 630 South Mashta Drive in Key Biscayne has been sold for $8,500,000. Spanning 15,000 square feet, the property offers a buildable square footage (BSF) of 15,000 and a price per buildable square foot (PPBSF) of $566.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $8,500,000
- Address: 630 South Mashta Drive, Key Biscayne
- Market: Key Biscayne
- BSF: 15,000
- PPBSF: $566
Elias Esber has acquired the property from Oceana Key Biscayne Corp, represented by Morella Rincon. The transaction was facilitated by Jessica Juliao of Cervera Real Estate.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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