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Northwest 191st Street, Mia...

Immocorp Capital Acquires Development Site In Miami Gardens For $15.4M
SOLDDevelopment Site

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

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.

Players

CG
City of Miami GardensSeller

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