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900 Belle Meade Island Drive

Michael Olsson Purchases Development Site From Jose Canero At 900 Belle Meade Island Drive For $4.3M
SOLDDevelopment Site

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

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:

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.

Players

Giovanni Mancini

Sotheby's International Realty

Broker

$58.2M

vol

14 deals

Broker
Jose Canero

Jose Canero

Seller

$150.7M

vol

12 deals

Seller

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