Fermin Alvarez Acquires Development Site In Miami From Elizabeth Wilson For $1,000,000
999 Southwest 24th Road
$1,000,000
$741/SF
Building Size
1,349 SF
Asset Type
Development Site
Closing
Apr 21, 2026
AI
The development site located at 999 Southwest 24th Road in Miami has been sold for $1,000,000. The property spans a total square footage of 1,349, resulting in a price per square foot of $741.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,000,000
- Buyer: Fermin Alvarez
- Seller: Elizabeth Wilson
- Brokers: Brandon Miguel & Jordy Perez - Cash4Keys
Brandon Miguel and Jordy Perez of Cash4Keys represented the transaction, and the firm is actively involved in acquiring investment properties throughout South Florida. They focus on off-market deals, value-added opportunities, developments, and strategic flips.
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93