Berkowitz Development Group Acquires 19-Acre Development Site In Homestead For $6.7M
SOLD
$6,700,000
Florida
See Similar DealsDevelopment Site
Sold 06/01/2023
SOLD
Berkowitz Development Group Acquires 19-Acre Development Site In Homestead For $6.7M
Southwest 152nd Avenue, Miami, Florida 33193, United States
See Similar DealsDevelopment Site
Sold 06/01/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
The sale of a development site in Homestead has been completed. The property, located between Southwest 152nd Avenue and Park of Commerce Boulevard, south of Southwest 328th Street, spans approximately 19 acres. The transaction took place on January 6, 2023.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,700,000
- Market: Homestead
- Address: Between Southwest 152nd Avenue & Park of Commerce Boulevard, South of Southwest 328th Street
- Buyer: Berkowitz Development Group - Michael Berkowitz
- Seller: Clifford Lincoln
Michael Berkowitz, representing Berkowitz Development Group, acted as the buyer in the transaction. The seller was Clifford Lincoln. No additional information regarding the deal or the individuals involved was provided.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$357,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,761.42
Annual Debt Service$381,137.02
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