Urban Core Capital LLC Acquires Development Site In Miami River District For $2.7M
SOLD
$2,725,000
Florida
See Similar DealsDevelopment Site132,000 SF
Sold 05/04/2022
SOLD
Urban Core Capital LLC Acquires Development Site In Miami River District For $2.7M
631 Northwest 10th Street, Miami, Florida 33136, United States
See Similar DealsDevelopment Site132,000 SF
Sold 05/04/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$20
Total Square Footage:132,000 SF
Transaction Type:Sale
Located in the Miami River District / Riverside area, this development site at 631 NW 10th Ave has recently been sold in a closed transaction. The asset type is a development site, offering potential for future construction and growth. The transaction took place on 05/04/2022.
Summary of transaction details:
- Property Type: Development Site
- Address: 631 NW 10th Ave
- Market: Miami River District / Riverside
The buyer of the property is Babba Joshua Yesharim, representing Urban Core Capital LLC. The seller is Ana Perriero. The brokers involved in this deal are Francisco Rodriguez Melo and Ray Borr from Cedano Realty Advisors, along with John Lonardo from ComReal.
The asking price for the site was $3,150,000, but it was sold for $2,725,000. The building size is approximately 132,000 square feet, resulting in a price per square foot of $21.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$145,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,681.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,917.89
Annual Debt Service$155,014.68
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