Florida Land Trust Acquires Single Family Property In North Miami Beach, FL For $45M
SOLD
$45,000,000
Florida
See Similar DealsSingle Family Residence9,145 SF
Sold 06/06/22
SOLD
Florida Land Trust Acquires Single Family Property In North Miami Beach, FL For $45M
299 Ocean Boulevard, North Miami Beach, Florida 33160, United States
See Similar DealsSingle Family Residence9,145 SF
Sold 06/06/22
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$4,920
Total Square Footage:9,145 SF
Transaction Type:Sale
The property involved in this transaction is a single-family home located at 299 Ocean Blvd in North Miami Beach, FL. The property has a total square footage of 9,145. The sale took place on June 7, 2022, with the buyer being Florida Land Trust and the seller being Mitchell B Grabois & Lori Grabois. The transaction amount for this property was $45,000,000, resulting in a price per square foot of $4,921.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $45,000,000
- Square Footage: 9,145
- Address: 299 Ocean Blvd, North Miami Beach, FL
- Market: North Miami Beach, FL
The buyer of the property is Florida Land Trust, while the sellers are Mitchell B Grabois & Lori Grabois.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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