Updated Oct 29, 2024
Immocorp Capital Acquires Development Site In Miami Gardens For $15.4M
Northwest 191st Street, Miami Gardens, FL, USA
$15,400,000
$9/SF
Building Size
1,550,736 SF
Asset Type
Development Site
Closing
Mar 2, 2020
About this deal
AI
A development site in Miami Gardens has been sold for $15,400,000. The property is located at Northwest 191st Street and Northwest 27th Avenue. The buyer, Immocorp Capital, represented by Gilbert Benhamou and Pascal Cohen, acquired the site from The City of Miami Gardens. The development site has a building size of 1,550,736 square feet and a price per square foot of $10.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $15,400,000
- Address: Northwest 191st Street, Northwest 27th Avenue, Miami Gardens
- Buyer: Immocorp Capital - Gilbert Benhamou & Pascal Cohen
- Seller: The City of Miami Gardens
- Building Size: 1,550,736 square feet
- Price per Square Foot: $10
Gilbert Benhamou and Pascal Cohen, representing Immocorp Capital, were the buyer's representatives in the deal. The sale of this development site in Miami Gardens marks another significant transaction in the area.
On the Map
$15,400,000
$9/SF
Development Site
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Players
Miami Gardens 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
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93