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350 Sevilla Avenue, Coral G...

Updated Dec 19, 2023

Alfredo Menocal Acquires Office Building In Coral Gables For $4.5M
SOLDOffice

Alfredo Menocal Acquires Office Building In Coral Gables For $4.5M

350 Sevilla Avenue, Coral Gables, Florida 33134

$4,500,000

$490/SF

Building Size

9,167 SF

Asset Type

Office

Closing

May 12, 2022

About this deal

AI

The office property located at 350 Sevilla Ave in Coral Gables has been sold for a total price of $4,500,000. The transaction took place on 05/12/2022. The property spans a total area of 9,167 square feet, resulting in a price per square foot of $491. The buyer of the property is Alfredo Menocal, Esq., while the seller is Hector Fortun. The deal was facilitated by Manny Chamizo from ONE Sotheby’s International Realty.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $4,500,000
  • Address: 350 Sevilla Ave, Coral Gables
  • Market: Coral Gables
  • Buyer: Alfredo Menocal, Esq.
  • Seller: Hector Fortun
  • Broker: Manny Chamizo - ONE Sotheby’s International Realty
  • Square Footage: 9,167
  • Price per Square Foot: $491

Manny Chamizo, representing ONE Sotheby’s International Realty, played a crucial role in facilitating the transaction between Alfredo Menocal, Esq. and Hector Fortun. The office property, located at 350 Sevilla Ave in Coral Gables, offers a spacious area of 9,167 square feet for business activities. With a selling price of $4,500,000, this transaction marks a significant deal in the Coral Gables market.

Players

Manny Chamizo III

Sotheby's International Realty

Broker

$199.1M

vol

31 deals

Broker

Coral Gables Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $490 per square foot on a published $4.5M for 9,167 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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