Sabal Development Acquires Land In Miami For $4.6M With Buyers Rep Mathieu Rochette & Sellers Rep Pascal Nicolai
SOLD
$4,600,000
Florida
See Similar DealsOther5,582 SF
Sold 02/17/2022
SOLD
Sabal Development Acquires Land In Miami For $4.6M With Buyers Rep Mathieu Rochette & Sellers Rep Pascal Nicolai
4040 Kiaora Street, Miami, Florida 33133, United States
See Similar DealsOther5,582 SF
Sold 02/17/2022
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$824
Total Square Footage:5,582 SF
Transaction Type:Sale
A land asset located at 4040 Kiaora St in Miami has recently been sold in a closed transaction. The property, with a total square footage of 36,000, was sold by Vidal A. Cadena & Annick Durango. The buyer, Sabal Development represented by Pascal Nicolai, acquired the land for a sales price of $4,600,000.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $4,600,000
- Address: 4040 Kiaora St
- Market: Miami
- Seller: Vidal A. Cadena & Annick Durango
- Seller's Representative: Mathieu Rochette - Compass
- Buyer: Sabal Development - Pascal Nicolai
- Buyer's Representative: Mathieu Rochette - Compass
- Building Square Footage (BSF): 36,000
- Price per Building Square Foot (PPBSF): $128
The sale of this land asset was facilitated by Mathieu Rochette from Compass, who represented both the seller and the buyer in the transaction. This successful deal demonstrates the growth and activity in the Miami real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$245,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,806.35
Annual Debt Service$261,676.16
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