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2921 Southwest 27th Avenue

Howard Roark Acquires Coconut Grove Office Building For $2.7M
SOLDOffice

Howard Roark Acquires Coconut Grove Office Building For $2.7M

2921 Southwest 27th Avenue

$2,700,000

$345/SF

Building Size

7,820 SF

Asset Type

Office

Closing

Jan 12, 2024

AI

An office property located at 2921 Southwest 27th Avenue in Coconut Grove has been sold for $2,700,000. The property spans 7,820 square feet, resulting in a price per square foot of $345. The transaction took place on January 12, 2024.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $2,700,000
  • Square Footage: 7,820
  • Price per Square Foot: $345
  • Address: 2921 Southwest 27th Avenue
  • Market: Coconut Grove

Howard Roark purchased the office property from Mark Kamilar. The sale was facilitated by Alfredo Riascos from Gridline Properties.

Players

Alfredo Riascos

Gridline Properties

Broker

$334.4M

vol

51 deals

Broker

Howard Roark

Buyer

$44M

vol

10 deals

Buyer

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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93