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Southwest 22nd Street

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

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

Southwest 22nd Street

$5,200,000

$298/SF

Building Size

17,450 SF

Asset Type

Office

Closing

Aug 26, 2024

AI

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

Broker

$19.4M

vol

5 deals

Broker

Shenandoah 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

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93