Alexander Degwitz Acquires Development Site In Upper Eastside, Miami For $1.25M
SOLD
$1,250,000
Florida
See Similar DealsDevelopment Site9,300 SF
Sold 01/29/2021
SOLD
Alexander Degwitz Acquires Development Site In Upper Eastside, Miami For $1.25M
652 NE 83rd Ln, Miami, FL, USA
See Similar DealsDevelopment Site9,300 SF
Sold 01/29/2021
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$134
Total Square Footage:9,300 SF
Transaction Type:Sale
A development site located at 652 NE 83 Ln in the Upper Eastside of Miami was recently sold in a transaction. The property, which is a development site, was purchased by Alexander Degwitz from Kristopher Rodriguez. The sale took place on January 29, 2021, for a price of $1,250,000. The property has a buildable square footage (BSF) of 9,300 and the price per buildable square footage (PPBSF) was calculated to be $134.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,250,000
- Buildable Square Footage: 9,300
- Price Per Buildable Square Footage: $134
- Buyer: Alexander Degwitz
- Seller: Kristopher Rodriguez
It is worth noting that the property had previously been purchased in November of 2014 for $175,000. This recent sale represents a significant increase in value over a period of several years.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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