Updated Mar 11, 2025
Michael Olsson Purchases Development Site From Jose Canero At 900 Belle Meade Island Drive For $4.3M
900 Belle Meade Island Drive
$4,300,000
$347/SF
Building Size
12,375 SF
Asset Type
Development Site
Closing
Mar 7, 2025
About this deal
AI
900 Belle Meade Island Drive is a development site located in the Miami market. The property was sold for $4,300,000 with a total area of 12,375 square feet, resulting in a price per square foot of $347.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,300,000
- Square Footage: 12,375
- Price Per Square Foot: $347
- Buyer: Michael Olsson
- Seller: Jose Canero
- Broker Representatives: Kimberli Foster, Giovanni Mancini & Mina Taskiran - One Sotheby’s International Realty
This transaction was facilitated by a team of brokers from One Sotheby’s International Realty, ensuring a smooth closure of the deal. The property was sold off-market, highlighting a unique opportunity in the Miami Beach and Miami area.
On the Map
$4,300,000
$347/SF
Development Site
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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
3.69%
Cash-on-Cash
-1.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93