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Christian Iacovelli Acquires Office Building In Coral Gables For $1.43M

Property Image
SOLD
$1,430,000

Florida

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Office2,600 SF
Sold 04/25/2022
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Property Image
SOLD

Christian Iacovelli Acquires Office Building In Coral Gables For $1.43M

55 Merrick Way, Coral Gables, Florida 33134, United States

See Similar Deals
Office2,600 SF
Sold 04/25/2022
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$550
Total Square Footage:2,600 SF
Transaction Type:Sale

An office property located at 55 Merrick Way in Coral Gables has been sold for $1,430,000. The property spans 2,600 square feet, resulting in a price per square foot of $550. The transaction took place on 04/25/2022.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $1,430,000
  • Square Footage: 2,600
  • Price per Square Foot: $550
  • Address: 55 Merrick Way, Coral Gables

Christian Iacovelli purchased the office property from Alvaro Castillo. The deal was facilitated by Mallory McGuire, a representative from ONE Sotheby's International Realty.

Players

Mallory McGuire
10 deals$73.2M volume
BROKER


3 deals$22.6M volume
SELLER

Details

SOLD
IMAGE: Mallory McGuire DATE: 04/25/2022 ADDRESS: 55 Merrick Way MARKET: Coral Gables ASSET TYPE: Office BUYER: Christian Iacovelli SELLER: Alvaro Castillo BROKER: Mallory McGuire (@MalloryJMcGuire) - ONE Sotheby's International Realty SALE PRICE: $1,430,000 SF: 2,600 ~ PPSF: $550

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,080.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,778.93
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