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Portland Holdings Acquires Development Site In Little River Miami From Ronny Herrera For $725,000

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SOLD
$725,000

Florida

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Development Site10,000 SF
Sold 09/12/2025
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SOLD

Portland Holdings Acquires Development Site In Little River Miami From Ronny Herrera For $725,000

7512 Northeast 3rd Court

See Similar Deals
Development Site10,000 SF
Sold 09/12/2025
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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.

Players

Ron Mann
10 deals$31.6M volume(305) 490-1404
BROKER

Details

SOLD
IMAGE: Ron Mann DATE: 09/12/2025 ADDRESS: 7512-7520 Northeast 3rd Court MARKET: Little River, Miami ASSET TYPE: Development Site BUYER: Portland Holdings SELLER: Ronny Herrera BROKER: Ron Mann (@mcgrealtyadvisors) - MCG Realty Advisors (@MCGRealtyAdvisors) SALE PRICE: $725,000 SF: 10,000 ~ PPSF: $72 NOTE FROM BROKER: Ron Mann, Managing Director for MCG Realty Advisors represented the seller in the sale of 2 Multifamily Development lots in the burgeoning Little River area of Miami. The current zoning (T5-R) allows the buyer to build up to 14 dwelling units.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$2,575.77
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