Oguz Otay Acquires Development Site In Miami For $1.9M
723 Northeast 77th Street
$1,900,000
Building Size
—
Asset Type
Development Site
Closing
Jan 12, 2023
AI
Oguz Otay has purchased a development site located at 723 Northeast 77th Street in Miami for $1,900,000. The property is situated in a prime location and offers great potential for future development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,900,000
- Address: 723 Northeast 77th Street, Miami
Oguz Otay was represented by Erman Adanir from Disruptive Real Estate in this transaction. The seller, Michael & Kelly Beltran, successfully closed the deal with the buyer.
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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93