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197-199 Nw 79 St

Biscayne Companies Acquires Little River Development Site For $2.3M
SOLDDevelopment Site

Biscayne Companies Acquires Little River Development Site For $2.3M

197-199 Nw 79 St

$2,290,000

$88/SF

Building Size

26,000 SF

Asset Type

Development Site

Closing

Feb 21, 2023

AI

A development site located at 197-199 NW 79 St in the Little River market has been sold for a price of $2,300,000. The property spans 26,000 square feet with a price per buildable square foot (PPBSF) of $88.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $2,300,000
  • Address: 197-199 NW 79 St
  • Market: Little River
  • Total Buildable Square Footage: 26,000
  • Price Per Buildable Square Foot: $88

The buyer of the property is Kenneth Fantes and Alejandro Reyes, representing Biscayne Companies, while the seller is Orlie Jedwab. The buyer's representative in the deal is Ernie Perez from Gridline Properties, and the seller's representative is Alfredo Riascos, also from Gridline Properties.

Players

Alfredo Riascos

Gridline Properties

Broker

$331.2M

vol

49 deals

Broker

Kenneth Fantes

Biscayne Companies

Buyer

$8.1M

vol

3 deals

Buyer

Kansas City Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.93%

Cash-on-Cash

-1.98%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93