ROVR Development Acquires Mobile Home Park In Miami For $15M
2750 Northwest South River Drive, Miami, FL, USA
$15,000,000
$89/SF
Building Size
166,834 SF
Asset Type
Other
Closing
Nov 22, 2020
About this deal
AI
A mobile home park located at 2750 Northwest South River Drive in Miami was recently sold for $15,000,00. The transaction took place on November 23, 2020. The park was purchased by ROVR Development, represented by Oscar Rodriguez and Ricardo Vadia, along with William D. Zabel from Schulte Roth & Zabel, and Alexandre J. Leviant from ICD Group. The seller of the property was Raul Nunuez, who owned A+ Mini Storage.
Summary of transaction details
- Property Type: Mobile Home Park
- Transaction Amount: $15,000,00
- Market: Miami
- Buyers: ROVR Development - Oscar Rodriguez & Ricardo Vadia, William D. Zabel - Schulte Roth & Zabel, Alexandre J. Leviant - ICD Group
- Seller: Raul Nunuez - A+ Mini Storage
- Date: November 23, 2020
William D. Zabel, a representative from Schulte Roth & Zabel, and Alexandre J. Leviant from ICD Group were also involved in the purchase of the mobile home park. The transaction marks a significant development in the real estate market in Miami.
Players
Miami Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Deal FAQ
About $89 per square foot on a published $15M for 166,834 square feet (2020).
Browse Florida other sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93