Beatriz Pernia Acquires Development Site In Miami For $1.05M
SOLD
$1,050,000
Florida
See Similar DealsDevelopment Site8,125 SF
Sold
SOLD
Beatriz Pernia Acquires Development Site In Miami For $1.05M
651 Northeast 75th Street
See Similar DealsDevelopment Site8,125 SF
Sold
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$129
Total Square Footage:8125 SF
Transaction Type:Sale
The property involved in the transaction is a Development Site located at 651 Northeast 75th Street in Miami. The asset spans 8,125 square feet, with a sale price of $1,050,000. This translates to a price per square foot of $129. The building's BSF is 4,454, resulting in a price per BSF of $236.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,050,000
- Buyer: Beatriz Pernia
- Seller: Mike Zikri
- Brokers: Alon Elbaz, Shlomo Poston & Yaacov Poston - The Real Estate Lab
The Real Estate Lab, represented by Alon Elbaz, Shlomo Poston, and Yaacov Poston, facilitated the sale of the Development Site. Beatriz Pernia acquired the property from the seller, Mike Zikri. The deal, which closed on June 14, 2024, exemplifies a significant transaction in the Miami market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$55,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,730.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,977.54
Annual Debt Service$59,730.43
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