West Kendall Fat Deer Key LLC Acquires 148.3-Acre Farmland In Miami-Dade County For $16.1M
Miami-Dade
$16,100,000
Building Size
—
Asset Type
Land
Closing
Jun 13, 2023
About this deal
AI
A 148.3-acre farmland located at the northeast corner of Krome Avenue and Southwest 136th Street/Howard Drive in Miami-Dade County has been sold for $16.1 million. The property, situated outside the Urban Development Boundary, was purchased by West Kendall Fat Deer Key LLC. The land holds limited potential for significant development but has seen an increase in value over time due to nearby redevelopment, its proximity to a solar power field, and the Kendall-Tamiami Executive Airport.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $16,100,000
- Market: Miami-Dade
- Acres: 148.3
The buyer, West Kendall Fat Deer Key LLC, represented by Brian McBride, acquired the property from the seller, Fat Deer Key LLC, represented by Mary Ann Bell.
Players
Miami Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93