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
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.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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