Red Apple Development Acquires Charter School In Wellington For $23M
3200 South State Road 7, Miami, FL, USA
$23,000,000
$348/SF
Building Size
66,000 SF
Asset Type
Other
Closing
Mar 26, 2019
About this deal
AI
A charter school in Miami at 3200 South State Road 7 was recently sold for $23,000,000. The property, spanning 66,000 square feet, was purchased by Red Apple Development from the sellers ESJ and MG3. The sale took place on March 27, 2019, in the city of Miami's Wellington market.
Summary of transaction details
- Property Type: Charter school
- Transaction Amount: $23,000,000
- Address: 3200 South State Road 7
- Market: Wellington
- City: Miami
Arnaud Sitbon captured an image of this charter school. The purchase price per square foot was calculated at $348.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93