Alirio Torrealba's MG Developer Group Acquires Hialeah Development Site For $16.3M
934 East 25th Street, 954 East 25th Street, 965 East 24th Street, 999 East 24th Street & 999 East 24th Street
$16,300,000
$40/SF
Building Size
406,525 SF
Asset Type
Development Site
Closing
Jan 19, 2024
AI
A development site located at 934-954 East 25th Street & 965-999 East 24th Street in Hialeah has been sold for $16,300,000. The site spans 81,305 square feet, resulting in a price per square foot of $200.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $16,300,000
- Square Footage: 81,305
- Price per Square Foot: $200
- Address: 934-954 East 25th Street & 965-999 East 24th Street, Hialeah
Alirio Torrealba from MG Developer Group acquired the property from Michael Klinger of Saber Real Estate South.
Players
Hialeah 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
0.97%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93