Premium Development Acquires Development Site In Miami For $15M
SOLD
$15,000,000
Florida
See Similar DealsDevelopment Site101,930 SF
Sold
SOLD
Premium Development Acquires Development Site In Miami For $15M
700 West Flagler Street, Miami, FL, USA
See Similar DealsDevelopment Site101,930 SF
Sold
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$147
Total Square Footage:101930 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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