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Alphatur LLC Purchases Office Building From Ocean Coral Way Inc For $5.2M In Miami

Property Image
SOLD
$5,200,000
Jeremy S. Larkin
Craig Merlin

Florida

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Office17,450 SF
Sold 08/26/2024
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Property Image
SOLD

Alphatur LLC Purchases Office Building From Ocean Coral Way Inc For $5.2M In Miami

Southwest 22nd Street

See Similar Deals
Office17,450 SF
Sold 08/26/2024
Jeremy S. Larkin
Craig Merlin
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$298
Total Square Footage:17,450 SF
Transaction Type:Sale

An office building located at 2150 Coral Way in Miami was sold for $5,200,000. The asset spans 17,450 square feet, resulting in a price per square foot of $298.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $5,200,000
  • Address: 2150 Coral Way
  • Market: Miami
  • SF: 17,450
  • PPSF: $298
  • Buyer: Alphatur LLC
  • Seller: Ocean Coral Way Inc
  • Brokers: Craig Merlin & Jeremy S. Larkin - NAI Miami | Fort Lauderdale

Jeremy Larkin and Craig Merlin were the brokers representing the seller, Ocean Coral Way Inc., while Alphatur LLC completed the purchase of the property.

Players

Jeremy S. Larkin
NAI Global
Jeremy S. Larkin
5 deals$19.4M volume(305) 389-1832
BROKER
Craig Merlin
NAI Global
Craig Merlin
3 deals$7.8M volume(305) 987-4401
BROKER

Details

SOLD
IMAGE: Craig Merlin & Jeremy S. Larkin DATE: 08/26/2024 ADDRESS: 2150 Coral Way MARKET: Miami ASSET TYPE: Office BUYER: Alphatur LLC SELLER: Ocean Coral Way Inc BROKERS: Craig Merlin (@Merlin510) & Jeremy S. Larkin (@Jeremy.Larkin.12) - NAI Miami | Fort Lauderdale (@NAIMiaFtL) SALE PRICE: $5,200,000 SF: 17,450 ~ PPSF: $298 NOTE: NAI Miami | Fort Lauderdale facilitated the $5.2 million sale of a 17,450-square-foot office building at 2150 Coral Way in Miami. Jeremy Larkin and Craig Merlin represented the seller, Ocean Coral Way Inc., while Alphatur LLC purchased the property.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$277,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83