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Codina Partners Acquires Development Site In Coral Gables For $13.2M

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SOLD
$13,200,000

Florida

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Development Site39,387 SF
Sold 04/05/2021
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Property Image
SOLD

Codina Partners Acquires Development Site In Coral Gables For $13.2M

2151 Salzedo Street, Coral Gables, FL, USA

See Similar Deals
Development Site39,387 SF
Sold 04/05/2021
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Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$335
Total Square Footage:39,387 SF
Transaction Type:Sale

Ana Codina & Armando Codina have sold a development site located at 2151 Salzedo Street in Coral Gables. The property was sold for a price of $13,200,000. The site spans approximately 1.3 acres, resulting in a price per acre of $10,153,846.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $13,200,000
  • Address: 2151 Salzedo Street, Coral Gables
  • Market: Coral Gables
  • Buyer: Codina Partners - Armando Codina
  • Seller: Mercedes-Benz of Coral Gables
  • Acres: 1.3
  • Price per Acre: $10,153,846

The buyer, Codina Partners, represented by Armando Codina, successfully acquired the development site from the seller, Mercedes-Benz of Coral Gables. This strategic acquisition adds to Codina Partners' portfolio in the Coral Gables market.

Players

13 deals$736M volume
BUYER

Details

SOLD
IMAGE: Ana Codina & Armando Codina DATE: 04/05/2021 ADDRESS: 2151 Salzedo Street MARKET: Coral Gables ASSET TYPE: Development Site BUYER: Codina Partners - Armando Codina SELLER: Mercedes-Benz of Coral Gables PRICE: $13,200,000 ACRES: 1.3 ~ PPA: $10,153,846

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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