Updated Feb 5, 2025
Lennar Homes Acquires 25.3 Acre Development Site In Homestead For $22.5M
Southwest 336th Street, Homestead, Florida 33035, United States
$22,500,000
Building Size
—
Asset Type
Development Site
Closing
Jan 25, 2022
About this deal
AI
A development site in Homestead has been sold for $22,500,000. The property, located at Southwest 336th Street & Southwest 172nd Avenue, spans over 25.3 acres. The buyer of the site is Lennar Homes, while the seller is Four Aces Property IV represented by Pedro Adrian and Adrian Homes.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $22,500,000
- Address: Southwest 336th Street & Southwest 172nd Avenue
- Market: Homestead
- Acreage: 25.3 acres
This transaction marks a significant deal in the Homestead real estate market. Lennar Homes, led by their representative, will now take ownership of this expansive development site. Four Aces Property IV, represented by Pedro Adrian and Adrian Homes, successfully closed the deal, highlighting their expertise in the industry.
Players
Homestead Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93