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328 Minorca Avenue

Updated Dec 21, 2023

Joseph Zumpano Acquires Office In Coral Gables For $3.05M
SOLDOffice

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

Manny Chamizo III

Sotheby's International Realty

Broker

$199.1M

vol

31 deals

Broker

Joseph Zumpano

Buyer

$3.1M

vol

2 deals

Buyer

Coral Gables Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $451 per square foot on a published $3.1M for 6,758 square feet (2022).

Visit Manny Chamizo III to view all their deals.

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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

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