AcadeMir Charter Schools Acquires Homestead Campus For $16.6M From Mario & Ramon Castellanos
13330 Southwest 288th Street
$16,600,000
$381/SF
Building Size
43,520 SF
Asset Type
School
Closing
Feb 13, 2024
About this deal
AI
AcadeMir Charter Schools has purchased its Homestead campus, a two-story educational building located at 13330 Southwest 288th Street, for $16.6 million. The property spans an area of 3.5 acres and features a total square footage of 43,520. The transaction was completed in the Homestead market.
Summary of transaction details
- Property Type: School
- Sale Price: $16,600,000
- Square Footage: 43,520
- Price Per Square Foot: $381
- Address: 13330 Southwest 288th Street
- Market: Homestead
- Buyer: Olivia Bernal - AcadeMir Charter Schools
- Seller: Mario & Ramon Castellanos
The Homestead campus was previously occupied by Aspira Leadership & College Preparatory Academy before being acquired by a Miami-based real estate investor entity managed by Mario and Ramon Castellanos in 2019 for $5.1 million. AcadeMir Charter Schools purchased the property from the Castellanos entity, marking a significant investment in the education sector.
On the Map
$16,600,000
$381/SF
School
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Homestead School Market Snapshot
Boundary boundary · School · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93