COFE Properties Acquires Office Building In Coconut Grove For $11M
2950 Southwest 27th Avenue, Miami, Florida 33133, United States
$11,000,000
$275/SF
Building Size
39,932 SF
Asset Type
Office
Closing
Feb 9, 2022
About this deal
AI
A 39,932-square-foot office property located at 2950 SW 27th Ave. in Coconut Grove, was recently sold for $11,000,000. The sale was facilitated by brokers Cody Brais, Matthew McCormack, and Hermen Rodriguez of JLL. The property is situated in a prime location in Coconut Grove, known for its vibrant market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $11,000,000
- Address: 2950 SW 27th Ave.
- Market: Coconut Grove
Cody Brais, Matthew McCormack, and Hermen Rodriguez, representing JLL, played a crucial role in the successful completion of the transaction. COFE Properties acquired the property from the CMC Group. The sale price of $11,000,000 reflects a price per square foot of $275. The transaction highlights the strong demand for office spaces in Coconut Grove and the expertise of the brokers involved.
Players
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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93