Joseph Zumpano Acquires Office In Coral Gables For $3.05M
328 Minorca Avenue
$3,050,000
$451/SF
Building Size
6,758 SF
Asset Type
Office
Closing
Aug 23, 2022
About this deal
AI
Located at 328 Minorca Ave in Coral Gables, this office property was recently sold for $3,050,000. The transaction took place on August 24, 2022, and the property spans 6,758 square feet. The price per square foot was approximately $451. Manny Chamizo of ONE Sotheby’s International Realty represented the buyer, Joseph Zumpano.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,050,000
- Address: 328 Minorca Ave, Coral Gables
- Market: Coral Gables
- Square Footage: 6,758
- Price per Square Foot: $451
- Buyer: Joseph Zumpano
- Broker: Manny Chamizo - ONE Sotheby’s International Realty
This sale transaction involved Joseph Zumpano as the buyer, represented by Manny Chamizo from ONE Sotheby’s International Realty. The property holds a prime location at 328 Minorca Ave in Coral Gables, offering a spacious area of 6,758 square feet. The sale price of $3,050,000 reflects the value of this office asset in the Coral Gables market.
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
5.20%
Cash-on-Cash
-1.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93