Updated Sep 9, 2024
DWNTWN Realty Advisors Sells Little River Development Site For $4.45M
7050 Northeast 2nd Court
$4,450,000
$131/SF
Building Size
33,864 SF
Asset Type
Development Site
Closing
Oct 7, 2022
About this deal
AI
A development site located at 7050 NE 2nd Ave in the Little River area of Miami has recently been sold for $4,450,000. The property spans 33,864 square feet, resulting in a price per square foot of $131. The transaction took place on October 7, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,450,000
- Address: 7050 NE 2nd Ave
- Market: Little River, Miami
- BSF: 33,864
- PPBSF: $131
The seller of the development site was Nicolas Pierre. The deal was facilitated by three brokers from DWNTWN Realty Advisors, namely Devlin Marinoff, Tony Arellano, and David Richman.
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
3.56%
Cash-on-Cash
-1.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93