Portland Holdings Acquires Development Site In Little River Miami From Ronny Herrera For $725,000
SOLD
$725,000
Florida
See Similar DealsDevelopment Site10,000 SF
Sold 09/12/2025
SOLD
Portland Holdings Acquires Development Site In Little River Miami From Ronny Herrera For $725,000
7512 Northeast 3rd Court
See Similar DealsDevelopment Site10,000 SF
Sold 09/12/2025
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$72
Total Square Footage:10,000 SF
Transaction Type:Sale
The property involved in this transaction is a development site located at 7512-7520 Northeast 3rd Court in Little River, Miami. The sale price for this asset was $725,000, with a total square footage of 10,000 and a price per square foot of $72.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $725,000
- Square Footage: 10,000
- Price per Square Foot: $72
- Buyer: Portland Holdings
- Seller: Ronny Herrera
- Broker: Ron Mann - MCG Realty Advisors
- Current Zoning: T5-R allowing the construction of up to 14 dwelling units
Ron Mann, the Managing Director for MCG Realty Advisors, represented the seller, Ronny Herrera, in this transaction involving the sale of two multifamily development lots in the Little River area, which is experiencing growth and development.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$38,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,575.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,436.87
Annual Debt Service$41,242.44
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