Updated Feb 5, 2025
Lennar Homes Acquires 27 Acre Development Site In Homestead For $7.1M
Old Dixie Highway, Homestead, FL, USA
$7,100,000
Building Size
—
Asset Type
Development Site
Closing
Sep 10, 2021
About this deal
AI
A 27-acre development site located at the intersection of Old Dixie Highway, Southwest 264th Street, and Southwest 272nd Street in Homestead has been sold for $7,100,000. The property was acquired by Lennar Homes, represented by Stuart Miller, while the seller was Four Aces Properties V LLC, represented by Pedro J. Adrian.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $7,100,000
- Address: Old Dixie Highway, Southwest 264th Street and Southwest 272nd Street
- Market: Homestead
- Asset Type: Development Site
- Acres: 27
- Price Per Acre: $262,963
This deal was facilitated by Stuart Miller of Lennar Homes, who represented the buyer. On the other side, Pedro J. Adrian, representing Four Aces Properties V LLC, acted as the seller's representative.
Homestead 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
2.23%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93