Updated Oct 28, 2024
NorthPoint Development Acquires 170-Acre Development Site In Pasco County For $59M
SR 52 & I-75, San Antonio, FL 33576
$59,000,000
$42/SF
Building Size
1,400,000 SF
Asset Type
Development Site
Closing
Nov 3, 2022
About this deal
AI
A development site in Pasco County, San Antonio, FL has been sold for a price of $59,000,000. The property, located at SR 52 & I-75, spans over 170 acres. The sale was facilitated by Cushman & Wakefield on behalf of the seller, Chestnut Hill Investments. The buyer of the site is NorthPoint Development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $59,000,000
- Address: SR 52 & I-75
- Market: Pasco County, San Antonio, FL
- Acres: 170
The successful sale of the development site was brokered by Cushman & Wakefield. This significant transaction highlights the demand for development opportunities in the area, as well as the confidence of both the buyer and the seller in the market.
Players
Miami 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93