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Pedro Martinez Sells Miami Home For $5.35M With Lance Butnick & Morgan Blittner - Brown Harris Stevens Miami
SOLD
Florida
See Similar DealsSingle Family5,000 SF
Sold 10/23/2023
Summary
Asset Type:Single Family
Price Per Square Foot:$1,070
Total Square Footage:5,000 SF
Transaction Type:Sale
Hall-of-Famer Pedro Martinez has sold his Miami home in the gated community of San Souci Estates for $5.35 million. The waterfront property offers 75 feet of water frontage and spans 5,022 square feet. It boasts six bedrooms and seven bathrooms, making it a spacious and luxurious single-family asset.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $5,350,000
- Market: North Miami
- Property Size: 5,000 square feet
- Price Per Square Foot: $1,070
Morgan Blittner and Lance Butnick of Brown Harris Stevens Miami represented the buyers in the transaction. Tracy Abramowitz, from Douglas Elliman, served as Pedro Martinez's representative during the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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