MG Developer Acquires Development Site In Hialeah For $8.9M
SOLD
$8,856,000
Florida
See Similar DealsDevelopment Site232,750 SF
Sold 06/21/2020
SOLD
MG Developer Acquires Development Site In Hialeah For $8.9M
955 East 25th Street, Hialeah, FL 33013, USA
See Similar DealsDevelopment Site232,750 SF
Sold 06/21/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$38
Total Square Footage:232,750 SF
Transaction Type:Sale
The development site located at 955 E 25th Street in Hialeah has been sold for $8,856,000. The property consists of 306 apartment units and 27,500 retail square feet. The sale took place on June 21, 2021.
Summary of transation details
- Property Type: Development Site (306 Apt Units & 27,500 Retail SF)
- Transaction Amount: $8,856,000
- Address: 955 E 25th Street, Hialeah
- Market: Hialeah
The buyer of the property is MG Developer, while the seller is Pointe Companies and JDM Realty Group. David Egozi from JDM Realty Group represented the seller in this transaction.
The property has a building square footage of 232,750, and the price per square foot (PPSF) is $38.
Players
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SELLER
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$472,320.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,463.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,981.96
Annual Debt Service$503,783.50
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