LIV Development Acquires Pinellas Park Multifamily Development Site For $9.2M
SOLD
$9,200,000
Florida
See Similar DealsDevelopment Site1,500 SF
Sold 11/10/2020
SOLD
LIV Development Acquires Pinellas Park Multifamily Development Site For $9.2M
7950 Park Blvd N, Pinellas Park, FL, USA
See Similar DealsDevelopment Site1,500 SF
Sold 11/10/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$6,133
Total Square Footage:1,500 SF
Transaction Type:Sale
A multifamily development site in Pinellas Park has been sold for $9,200,000. The property, located at 7950 Park Blvd, spans across 19 acres, resulting in a price per acre of $484,210. The transaction took place on November 10, 2020. Nancy Surak of Land Advisors Organization represented the seller, Huntley Properties, in the deal. The buyer was LIV Development.
Summary of transaction details
- Property Type: Multifamily Development Site
- Transaction Amount: $9,200,000
- Address: 7950 Park Blvd
- Market: Pinellas Park
- Acres: 19
- Price per Acre (PPA): $484,210
- Date: November 10, 2020
Nancy Surak, from Land Advisors Organization, acted as the representative for Huntley Properties in this transaction. LIV Development, the buyer, secured the multifamily development site in Pinellas Park. The deal was successfully concluded on November 10, 2020.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$490,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32
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