Updated Oct 28, 2024
Premium Development Acquires Development Site In Miami For $15M
700 West Flagler Street, Miami, FL, USA
$15,000,000
$147/SF
Building Size
101,930 SF
Asset Type
Development Site
Closing
May 12, 2020
About this deal
AI
The development site located at 700 West Flagler Street in Miami has been sold for $15,000,000. The property spans across 2.3 acres, translating to a per-acre price of approximately $6,521,739. The transaction took place on 05/12/2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,000,000
- Address: 700 West Flagler Street
- Market: Miami
Premium Development, represented by Roger Karre, acquired the property from Presidente Supermarkets, represented by Ana V. & Pedro O. Rodriguez. The transaction was facilitated by brokers Carlos Fausto Miranda and Alessandro Lima of Fausto Commercial.
On the Map
$15,000,000
$147/SF
Development Site
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Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93