Juan Jose Zaragoza Acquires Office Building In Miami Beach For $26.5M
SOLD
$26,500,000
Florida
See Similar DealsOffice33,384 SF
Sold 12/16/2021
SOLD
Juan Jose Zaragoza Acquires Office Building In Miami Beach For $26.5M
1674 Meridian Avenue, Miami Beach, FL 33139
See Similar DealsOffice33,384 SF
Sold 12/16/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$793
Total Square Footage:33,384 SF
Transaction Type:Sale
Located at 1674 Meridian Ave in Miami Beach, this office property was recently sold in a transaction closed on December 16, 2021. The property spans a total area of 33,384 square feet, with a sale price of $26,500,000. The price per square foot comes to $794. The sale was between the buyer, Juan Jose Zaragoza of Exan Capital, and the seller, Integra Investments represented by Victor Ballestas and Constellation Group represented by Eduardo Otaola.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $26,500,000
The buyer, Juan Jose Zaragoza, represents Exan Capital in the deal, while the seller is represented by Victor Ballestas from Integra Investments and Eduardo Otaola from Constellation Group. This transaction showcases the active market in Miami Beach and highlights the involvement of key individuals and companies in the real estate industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$94,148.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$125,623.52
Annual Debt Service$1,507,482.24
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