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745 Southwest 3rd Street

Billy Ochaita Purchases Development Site In Miami For $1.25M
SOLDDevelopment Site

Billy Ochaita Purchases Development Site In Miami For $1.25M

745 Southwest 3rd Street

$1,250,000

Building Size

Asset Type

Development Site

Closing

Feb 28, 2024

AI

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.

Players

Carlos Fausto Miranda

Fausto Commercial Realty Consultants

Broker

$239.3M

vol

54 deals

Broker

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

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93