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Miami Dade

Bravo And Partners Three Lakes LLC Acquires 3.87 Acres Of Land In Miami-Dade For $3.73M
SOLDLand

Bravo And Partners Three Lakes LLC Acquires 3.87 Acres Of Land In Miami-Dade For $3.73M

Miami Dade

$3,730,000

Building Size

Asset Type

Land

Closing

Jul 16, 2023

AI

An undeveloped land spanning 3.87 acres in Miami-Dade County has been sold for a total of $3.73 million. The property, previously intended to serve as the site for Resia's new headquarters office, has now changed hands, prompting the company to scrap its plans and continue operating from its current location. Despite the sale, Resia remains committed to its future growth.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $3,730,000
  • Market: Miami-Dade
  • Buyer: Bravo and Partners Three Lakes LLC - Armando Bravo
  • Seller: Three Lakes LLC - Carlos E. Gonzalez

The sale of this vacant land signifies a change in plans for Resia, as they abandon the idea of a new headquarters office. However, the company continues to emphasize its commitment to future growth, despite the sale of the intended property.

Players

BP
Bravo and PartnersBuyer
TL
Three Lakes LLCSeller

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

4.25%

Cash-on-Cash

-1.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93