Casa Princeton Acquires Development Site From Luis Percul In Homestead For $4.8M
Southwest 248th Street
$4,800,000
$28/SF
Building Size
169,425 SF
Asset Type
Development Site
Closing
Oct 15, 2024
AI
The development site located at 12891 & 12867 Southwest 248th Street in the Homestead market was sold for $4,800,000, covering a total area of 169,425 square feet, resulting in a price per square foot of $28.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,800,000
- Buyer: Casa Princeton
- Seller: Luis Percul
- Broker: Tomas Sulichin - RelatedISG International Realty
- Date of Transaction: 10/15/2024
Tomas Sulichin, President of Related ISG Commercial, facilitated the off-market sale of the development site, which is fully approved for a townhome and garden-style development. Within 60 days of securing the exclusive listing, he achieved a successful transaction, marking his seventh development deal in the Homestead area. Related ISG Commercial specializes in securing off-market development opportunities across South Florida and the entire state.
Homestead Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93