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5900 Biscayne BLVD, Miami, ...

Cosmo Nova LLC Acquires Land On 5900 Biscayne Blvd, Miami For $1.88M
SOLDLand

Cosmo Nova LLC Acquires Land On 5900 Biscayne Blvd, Miami For $1.88M

5900 Biscayne BLVD, Miami, FL, 33137

$1,880,000

$108/SF

Building Size

17,325 SF

Asset Type

Land

Closing

Nov 20, 2023

AI

The property involved in this transaction is a land asset located at 5900 Biscayne Blvd, Miami, FL, 33137. The site is situated in the Miami market and spans 17,325 square feet. It was sold for a total price of $1,880,000.00.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $1,880,000.00
  • Address: 5900 Biscayne Blvd, Miami, FL, 33137
  • Market: Miami
  • Buyer: Cosmo Nova LLC
  • Seller: DJ 2014 LLC
  • Buyer’s Representative: Mariana Garber - Coldwell Banker
  • Seller’s Representative: Skyler Marinoff
  • Square Footage: 17,325

Skyler Marinoff of DWNTWN Realty Advisors represented the seller, DJ 2014 LLC, during the transaction and effectively attracted significant interest from potential buyers. The buyer, Cosmo Nova LLC, is a cosmetics distribution company intending to establish a new corporate headquarters and sales center on the property. The transaction involved navigating various complex zoning issues and entitlement and permitting processes.

Players

Skyler Marinoff

Broker

$15.9M

vol

3 deals

Broker

Miami Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.44%

Cash-on-Cash

-2.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93