Gianfranco Nucci Acquires Miami Development Site For $12.5M
SOLD
$12,500,000
North Carolina
See Similar DealsDevelopment Site31,835 SF
Sold 12/20/2020
SOLD
Gianfranco Nucci Acquires Miami Development Site For $12.5M
410 NE 27th St
See Similar DealsDevelopment Site31,835 SF
Sold 12/20/2020
Summary
NORTH CAROLINA
Asset Type:Development Site
Price Per Square Foot:$392
Total Square Footage:31,835 SF
Transaction Type:Sale
A development site located at 410 NE 27th St in Miami has been sold for $12,500,000. The property spans 31,835 square feet, resulting in a price per square foot of $393. The transaction took place on December 21, 2022, with Gianfranco Nucci as the buyer and William Wiener as the seller.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,500,000
- Square Footage: 31,835
- Price per Square Foot: $393
- Address: 410 NE 27th St, Miami
- Market: Miami
Benjamin (Ben) Silver and Leslie Maister from CBRE represented the seller in this transaction. They acted as the seller's representatives throughout the deal.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,256.38
Annual Debt Service$711,076.53
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