Alex Hanna Acquires Coral Gables Office Building For $15M
SOLD
$15,000,000
Florida
See Similar DealsOffice45,868 SF
Sold 04/18/2022
SOLD
Alex Hanna Acquires Coral Gables Office Building For $15M
4231 West Flagler Street, Miami, Florida 33134, United States
See Similar DealsOffice45,868 SF
Sold 04/18/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$327
Total Square Footage:45,868 SF
Transaction Type:Sale
The office building located at 4231 W Flagler St in Coral Gables, FL has been sold for a price of $15,000,000. The property spans a total of 45,868 square feet, resulting in a price per square foot of $372. The transaction took place on April 18, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $15,000,000
- Square Footage: 45,868
- Price Per Square Foot: $372
- Address: 4231 W Flagler St, Coral Gables, FL
- Market: Coral Gables, FL
Alex Hanna has acquired the property, while Mike Mouriz, Rey Mouriz, and Henry Puig were the sellers. The deal was facilitated by brokers Neyda Bravo from Bravo & Partners Realty and Jorge Cruz.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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