Updated Dec 21, 2023
Alfred Padron Acquires Net Lease Bank In Coral Gables For $4.85M
2000 Southwest 57th Avenue, Coral Gables, FL, USA
$4,850,000
$1,616/SF
Building Size
3,000 SF
Asset Type
Commercial
Closing
Oct 27, 2021
About this deal
AI
Located in Coral Gables, the property at 2000 SW 57th Avenue recently changed hands in a closed sale transaction. The asset, classified as a Net Lease Bank, spans approximately 3,000 square feet. The sale price amounted to $4,850,000, resulting in a price per square foot of $1,617. This transaction achieved a record-breaking cap rate of 3.61%.
Summary of Transaction Details
- Property Type: Net Lease Bank
- Transaction Amount: $4,850,000
- Address: 2000 SW 57th Avenue
- Market: Coral Gables
Alfred Padron successfully acquired the property from Yariv Bensira. Represented by his broker Edwin Meza, Padron navigated the transaction to secure ownership. On the seller's side, Eddie Toledo and Jonathan De La Rosa, affiliated with Marcus & Millichap, served as representatives for Yariv Bensira. The deal showcased the involvement of key individuals and companies in facilitating the sale.
On the Map
$4,850,000
$1,616/SF
Commercial
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Players
Coral Gables Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.27%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93