facebook
Traded Co logo
Submit
Daily limit: 0/10

Baxter Building Corporation Acquires Land Assemblage In Miami For $9 Million With Lender Grove Bank & Trust

Property Image
SOLD
$9,000,000

Florida

See Similar Deals
Land57,732 SF
Sold 01/22/2025
the dealplayerscompscontact
Property Image
SOLD

Baxter Building Corporation Acquires Land Assemblage In Miami For $9 Million With Lender Grove Bank & Trust

49 Northwest 35th Street & 3511 Northwest 1st Avenue

See Similar Deals
Land57,732 SF
Sold 01/22/2025
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Land
Price Per Square Foot:$155
Total Square Footage:57,732 SF
Transaction Type:Sale

The asset involved in this transaction is a 6-lot assemblage of land located at 49-69 Northwest 35th Street & 3511 Northwest 1st Avenue in the Miami market. The total sale price of the property was $9,000,000, with a total square footage of 28,866 and a price per square foot of $312. The land spans approximately 0.66 acres and was sold in parts by multiple entities.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $9,000,000
  • Buyer: Amanda, Bob & Eric Baxter - Baxter Building Corporation
  • Seller: Melborn Investments LLC, Wynwood Equity Partners LLC & JNL Wynwood LLC
  • Broker: George Belesis - DWNTWN Realty Advisors
  • Lender: Grove Bank & Trust
  • Loan Amount: $2.95 million

Baxter Building Corporation, based in Hudson Valley, acquired the property with plans to demolish existing improvements. The transaction involved multiple sellers and reflects a significant investment in the Miami area.

Players

George Belesis
DWNTWN Realty Advisors
George Belesis
17 deals$52.7M volume(305) 647-0999
BROKER
Grove Bank & Trust
Grove Bank & Trust
LENDER

Details

SOLD
IMAGE: Eric Baxter, Bob Baxter, Amanda Baxter & George Belesis DATE: 01/22/2025 ADDRESS: 49-69 Northwest 35th Street & 3511 Northwest 1st Avenue MARKET: Miami ASSET TYPE: Land BUYER: Amanda, Bob & Eric Baxter - Baxter Building Corporation SELLER: Melborn Investments LLC, Wynwood Equity Partners LLC & JNL Wynwood LLC BROKER: George Belesis - DWNTWN Realty Advisors (@DWNTWNRealtyAdvisors) LENDER: Grove Bank & Trust SALE PRICE: $9,000,000 SF: 28,866 ~ PPSF: $312 NOTE: Hudson Valley-based Baxter Building Corporation acquired a 6-lot assemblage for $9 million in total, securing $2.95 million in new debt from Grove Bank & Trust. The land, spanning 0.66 acres, was sold in parts by various entities, with plans to demolish existing improvements. #

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10