Louis Angulo Of Atlantic Miami Boatlifts Acquires Development Site From Luis Garcia For $1.8M
8241 Southwest 58th Street
$1,800,000
Building Size
—
Asset Type
Development Site
Closing
Apr 19, 2026
AI
The property involved in the transaction is a development site located at 8241 Southwest 58th Street in Olympia Heights. The sale was finalized with a transaction amount of $1,800,000, registering as the highest price achieved for a lot in this submarket. The site is positioned for a new residential project tailored to meet the luxury demands in Miami.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,800,000
- Buyer: Louis Angulo - Atlantic Miami Boatlifts
- Seller: Luis Garcia - Adonel Concrete
- Broker: Ana Teresa Rodriguez - Coldwell Banker
- Construction: Rob Vallejo - Alligator Construction
The transaction was orchestrated by Ana Teresa Rodriguez, who represented both the buyer and seller throughout the process. She successfully sourced the property off-market and achieved a 14-day closing at its true land value. Following the acquisition, ATR Concepts contributed a residential vision, complete with architectural plans, transforming the asset into a development opportunity that underscores the trend toward concept-driven land sales in Miami.
Players
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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93