Freshwater Group Acquires Coral Way Office Building For $7.2M
1800 SW 27th Ave, Coral Way, Miami, FL, USA
$7,200,000
$139/SF
Building Size
51,722 SF
Asset Type
Office
Closing
Jan 2, 2020
About this deal
AI
An office property located at 1800 Southwest 27th Ave in Coral Way has been sold for $7,200,000. The property spans 51,722 square feet, resulting in a price per square foot of $216. The transaction took place on January 3, 2020. The buyer of the property is Freshwater Group, represented by Joey Sayegh and David Young. The seller is 1800 Professional Building LLC, owned by Julio Del Rey. Andros Sarduy from Fortune International Realty served as the broker for the deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,200,000
- Address: 1800 Southwest 27th Ave
- Market: Coral Way
Notable individuals involved in the transaction include Joey Sayegh and David Young representing Freshwater Group as the buyers. Julio Del Rey is the owner of 1800 Professional Building LLC, the seller of the property. The deal was facilitated by Andros Sarduy from Fortune International Realty, acting as the broker.
On the Map
$7,200,000
$139/SF
Office
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Players
Miami Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93