Alirio Torrealba's MG Developer Group Acquires Hialeah Development Site For $16.3M
SOLD
$16,300,000
Florida
See Similar DealsDevelopment Site406,525 SF
Sold 01/19/2024
SOLD
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
See Similar DealsDevelopment Site406,525 SF
Sold 01/19/2024
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$40
Total Square Footage:406,525 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$869,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,910.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,270.32
Annual Debt Service$927,243.79
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