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74-82 Southwest 28th Street...

Gridline Properties Represents Seller In $6M Sale Of Development Site In Wynwood, Miami
SOLDDevelopment Site

Gridline Properties Represents Seller In $6M Sale Of Development Site In Wynwood, Miami

74-82 Southwest 28th Street, Miami, Florida 33165, United States

$6,000,000

$531/SF

Building Size

11,300 SF

Asset Type

Development Site

Closing

Dec 23, 2021

AI

The development site located at 74-82 NW 28 Street in Wynwood, Miami was recently sold for a price of $6,000,000. The property spans a total square footage of 11,300, equating to a price per square foot of $531. The buyer's representative for this transaction was Emilia Howard from Gridline Properties, while the seller's representative was Alfredo Riascos, also from Gridline Properties. The sale of this development site presents an exciting opportunity in the vibrant Wynwood market.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $6,000,000
  • Address: 74-82 NW 28 Street, Wynwood, Miami
  • Market: Wynwood, Miami
  • Buyer's Representative: Emilia Howard - Gridline Properties
  • Seller's Representative: Alfredo Riascos - Gridline Properties
  • Total Square Footage: 11,300
  • Price per Square Foot: $531

Emilia Howard from Gridline Properties played a pivotal role as the buyer's representative in this transaction, ensuring a successful acquisition of the development site. On the other side, Alfredo Riascos, also from Gridline Properties, represented the sellers throughout the negotiation process. Their expertise and professionalism contributed to the smooth completion of this deal in Wynwood's dynamic real estate market.

Players

Alfredo Riascos

Gridline Properties

Broker

$334.4M

vol

51 deals

Broker

David Halabu

Seller

$7.6M

vol

2 deals

Seller

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

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93