Billy Ochaita Purchases Development Site In Miami For $1.25M
SOLD
$1,250,000
Florida
See Similar DealsDevelopment Site
Sold 02/28/2024
SOLD
Billy Ochaita Purchases Development Site In Miami For $1.25M
745 Southwest 3rd Street
See Similar DealsDevelopment Site
Sold 02/28/2024
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
The development site located at 745 Southwest 3rd Street in Miami was recently sold for $1,250,000. The transaction involved Billy Ochaita as the buyer and Alex Lam as the seller. The property was facilitated for sale by Carlos Fausto Miranda and Mauricio Villasuso of Fausto Commercial Realty Consultants.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,250,000
- Address: 745 Southwest 3rd Street
- Market: Miami
Carlos Fausto Miranda and Mauricio Villasuso, representing Fausto Commercial Realty Consultants, were the brokers involved in the sale of the development site. The transaction took place on 02/28/2024, marking a noteworthy deal in the Miami real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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