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2800 Southwest 37th Avenue

Jesus Vera Acquires Development Site In Coral Gables For $4M
SOLDDevelopment Site

Jesus Vera Acquires Development Site In Coral Gables For $4M

2800 Southwest 37th Avenue

$4,000,000

$321/SF

Building Size

12,430 SF

Asset Type

Development Site

Closing

Jan 3, 2024

AI

A development site located at 2800 Southwest 37th Avenue in Coral Gables has been sold for $4,000,000. The property spans 12,430 square feet, resulting in a price per square foot of $322.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $4,000,000
  • Square Footage: 12,430
  • Price per Square Foot: $322
  • Address: 2800 Southwest 37th Avenue, Coral Gables
  • Market: Coral Gables

The buyer in this transaction is Jesus Vera, while the seller is Manuel Al Abdallah. Representing the seller, Michael Fernandez & Mario Fernandez of Florida Realty of Miami facilitated the deal.

For any off-market buying or selling needs, interested parties can contact Michael Fernandez and Mario Fernandez at [email protected] (786-260-7830) or [email protected] (786-344-4544).

Players

Michael Fernandez

Florida Realty of Miami

Broker

$28.6M

vol

7 deals

Broker

Miami 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

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93