Juan Mercado Purchases $2.4M Condo On South Bayshore Drive In Coconut Grove, FL
SOLD
$2,400,000
Florida
See Similar Deals3,669 SF
Sold 01/14/2022
SOLD
Juan Mercado Purchases $2.4M Condo On South Bayshore Drive In Coconut Grove, FL
2675 South Bayshore Drive, Miami, Florida 33133, United States
See Similar Deals3,669 SF
Sold 01/14/2022
Summary
FLORIDA
Price Per Square Foot:$654
Total Square Footage:3,669 SF
Transaction Type:Sale
Located at 2675 South Bayshore Drive in Coconut Grove, FL, this recently sold property is a condo with a total square footage of 2,022. The sale took place on January 14, 2022, and it was captured in an image by Maria Gabriela Sanchez. The asset type of this property is a condo, offering a luxurious living experience in a highly desirable location.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $2,400,000
- Address: 2675 South Bayshore Drive, Coconut Grove, FL
- Image: Maria Gabriela Sanchez
- Date: January 14, 2022
The buyer of this property is Juan Mercado, while the seller is William Restrepo. Representing the buyer is Maria Gabriela Sanchez from Elmir Group at One Sotheby's International Realty. On the seller's side, the representative is Teresita DeBlank. The sale price for this condo was $2,400,000, which translates to a price per square foot of $1,187. This transaction demonstrates the thriving real estate market in Coconut Grove, with buyers showing a strong interest in upscale condominiums.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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