EXP Realty LLC Acquires Development Site In Bay Point Estates, Miami For $8.95M
770 Lake Road
$8,950,000
$702/SF
Building Size
12,740 SF
Asset Type
Development Site
Closing
Apr 21, 2023
AI
A development site located at 770 Lake Road in Bay Point Estates, Miami has been sold in a closed transaction. The property spans a total of 12,740 square feet, with a sale price of $8,950,000. The price per square foot amounts to $703. The sale was facilitated by Tomas Hoffmann from EXP Realty LLC, representing the buyer, and Julianna Castro from Compass, representing the seller.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $8,950,000
- Address: 770 Lake Road, Bay Point Estates, Miami
- Square Footage: 12,740 SF
- Price per Square Foot: $703
- Buyer's Rep: Tomas Hoffmann - EXP Realty LLC
- Seller's Rep: Julianna Castro - Compass
The sale of this development site was completed with the assistance of Tomas Hoffmann, a broker from EXP Realty LLC, representing the buyer, and Julianna Castro, a broker from Compass, representing the seller.
Players
Market 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
1.77%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93