Marcos Lago Acquires Single Family Home From HR Developers For $11.45M In Miami Beach
SOLD
$11,450,000
Florida
See Similar DealsSingle Family Residence5,248 SF
Sold 08/01/2024
SOLD
Marcos Lago Acquires Single Family Home From HR Developers For $11.45M In Miami Beach
3172 North Bay Road
See Similar DealsSingle Family Residence5,248 SF
Sold 08/01/2024
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,181
Total Square Footage:5,248 SF
Transaction Type:Sale
The property involved in this transaction is a single-family home located at 3172 North Bay Road in Miami Beach. It has an asking price of $11,985,000 and ultimately sold for $11,450,000. The residence spans approximately 5,248 square feet, resulting in a price per square foot of $2,181.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $11,450,000
- Address: 3172 North Bay Road
- Market: Miami Beach
- Buyer: Marcos Lago
- Seller: HR Developers - Humberto Ramirez Developers
- Broker: Humberto Ramirez - Avanti Way
This transaction involved broker Humberto Ramirez representing HR Developers in the sale. The buyer, Marcos Lago, and seller had an agreement concluding the transaction in January 2024.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$610,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,679.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,278.84
Annual Debt Service$651,346.10
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