Thomas R Sheerrill Acquires Miami Office Building From Lord Toussaint For $7.5M
245 Catalonia Avenue, Miami, Florida 33134, United States
$2,450,000
$572/SF
Building Size
4,279 SF
Asset Type
Office
Closing
May 11, 2022
About this deal
AI
The office building located at 255 University Dr in Miami, FL has been sold in a transaction that took place on February 14, 2023. The property, with a total square footage of 10,742, was purchased by Thomas R Sheerrill for a price of $7,500,000. The price per square foot is $698.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: $7,500,000
- Address: 255 University Dr, Miami, FL
- Market: Miami, FL
- Buyer: Thomas R Sheerrill
- Seller: Lord Toussaint
- Total Square Footage: 10,742
- Price per Square Foot: $698
This transaction showcases the successful sale of the office building, with Thomas R Sheerrill as the buyer and Lord Toussaint as the seller. The deal represents a significant investment in the Miami market and demonstrates confidence in the potential of the property.
Players
Coral Gables 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
6.47%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93