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1801 Southwest 3rd Avenue, ...

Updated Sep 9, 2024

Miami One Real Estate And Avanti Way Realty Sell Office Building At 1801-1815 SW 3rd Avenue In Miami, FL For $7.75M
SOLDOffice

Miami One Real Estate And Avanti Way Realty Sell Office Building At 1801-1815 SW 3rd Avenue In Miami, FL For $7.75M

1801 Southwest 3rd Avenue, Miami, Florida 33129, United States

$7,750,000

$253/SF

Building Size

30,622 SF

Asset Type

Office

Closing

Dec 22, 2021

About this deal

AI

An 8-story corner building located at 1801 - 1815 SW 3rd Avenue in Miami, Florida has been sold in a closed transaction. The property, situated on a 21,000 square foot lot, offers a prime location next to Brickell and is just minutes away from Coral Gables and Coconut Grove. With a total of 30,622 square feet, this standalone office building features a spacious and versatile layout.

Summary of transaction details

  • Property Type: Office
  • Sale Price: $7,750,000
  • Asking Price: $9,999,000
  • Square Footage: 30,622
  • Price per Square Foot: $253
  • Market: Miami
  • Transaction Date: 12/22/2021

The sale of the property was facilitated by two brokers. Maria Lazbal from Miami One Real Estate and Manuel Liway from Avanti Way Realty represented the respective parties involved in the transaction. Their expertise and negotiation skills helped facilitate a successful deal.

This transaction represents a significant opportunity for the new owners to capitalize on the property's prime location and ample space. The building's close proximity to key Miami areas such as Brickell, Coral Gables, and Coconut Grove makes it an attractive option for businesses seeking a strategic location.

NOTE FROM BROKER: The property's standout features include its 8-story height, corner positioning, and a spacious lot. These characteristics, combined with its close proximity to major Miami areas, make it a highly desirable investment.

Players

Maria Lazbal

Broker

$7.8M

vol

1 deal

Broker

Miami Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $253 per square foot on a published $7.8M for 30,622 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.05%

Cash-on-Cash

-0.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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