Royal Senior Care Acquires Development Site In Miami-Dade For $7.55M
SOLD
$7,550,000
Florida
See Similar DealsDevelopment Site561,924 SF
Sold 01/22/2020
SOLD
Royal Senior Care Acquires Development Site In Miami-Dade For $7.55M
Southwest 152nd Street, Miami, FL, USA
See Similar DealsDevelopment Site561,924 SF
Sold 01/22/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$13
Total Square Footage:561,924 SF
Transaction Type:Sale
A development site located at SW 152nd Street & SW 97th Ave in Miami-Dade has been sold for a total price of $7,550,000. The buyer, RSC Coral Reef PropCo LLC, represented by Avi Bittan from Royal Senior Care, acquired the property from HTA-Miami Dade Land LLC. The transaction was completed on January 22, 2020.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $7,550,000
- Address: SW 152nd Street & SW 97th Ave, Miami-Dade
- Market: Miami-Dade
- Buyer: RSC Coral Reef PropCo LLC, represented by Avi Bittan from Royal Senior Care
- Seller: HTA-Miami Dade Land LLC
Avi Bittan from Royal Senior Care acted as the buyer's representative in this deal. The development site has a building square footage of 561,924, and the price per building square footage was $13.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$402,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,823.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,790.85
Annual Debt Service$429,490.22
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