Updated Nov 28, 2024
Related Group Acquires 10-Acre Development Site In Miami-Dade County For $7.8M
Southwest 127th Avenue, Homestead, Miami-Dade County, FL, USA
$7,800,000
Building Size
—
Asset Type
Development Site
Closing
Nov 15, 2021
About this deal
AI
The recent sale in Miami-Dade County involved a development site spanning approximately 10 acres. The property, located on Southwest 127th Avenue just south of Southwest 240th Street, was sold for a total of $7,800,000. The sale took place on November 15, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $7,800,000
- Address: Southwest 127th Avenue just south of Southwest 240th Street, Miami-Dade County
- Market: Miami-Dade County
- Buyer: Related Group - Jorge Pérez & Jon Paul Pérez
- Seller: Princeton Land Investments; Thomas Korge, Thomas Korge III & Christpher Korge - Korge & Korge, LLP
The buyer of the property is Related Group, represented by Jorge Pérez and Jon Paul Pérez. The seller is Princeton Land Investments, with Thomas Korge, Thomas Korge III, and Christpher Korge representing the seller through Korge & Korge, LLP.
Players
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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93