Jesus Vera Acquires Development Site In Coral Gables For $4M
SOLD
$4,000,000
Florida
See Similar DealsDevelopment Site12,430 SF
Sold 01/03/2024
SOLD
Jesus Vera Acquires Development Site In Coral Gables For $4M
2800 Southwest 37th Avenue
See Similar DealsDevelopment Site12,430 SF
Sold 01/03/2024
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$321
Total Square Footage:12,430 SF
Transaction Type:Sale
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).
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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