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2641 Abaco Avenue

Howard Roark Acquires Development Site At 2641 Abaco Avenue From Andres Siso For $2.7M
SOLDDevelopment Site

Howard Roark Acquires Development Site At 2641 Abaco Avenue From Andres Siso For $2.7M

2641 Abaco Avenue

$2,700,000

$373/SF

Building Size

7,225 SF

Asset Type

Development Site

Closing

Aug 6, 2024

AI

The transaction involves a development site located at 2641 Abaco Avenue in the Miami market. The sale price for the property amounted to $2,700,000, with a total square footage of 7,225 and a price per square foot of $373.

Summary of transation details:

Key individuals involved in this transaction include the buyer Howard Roark and seller Andres Siso, with Alfredo Riascos representing the buyer and Alejandro Salazar representing the seller. Each broker played a crucial role in facilitating the deal between the parties involved.

Players

Alfredo Riascos

Gridline Properties

Broker

$334.4M

vol

51 deals

Broker

Miami 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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93