Christian Iacovelli Acquires Office Building In Coral Gables For $1.43M
55 Merrick Way, Coral Gables, Florida 33134, United States
$1,430,000
$550/SF
Building Size
2,600 SF
Asset Type
Office
Closing
Apr 24, 2022
AI
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
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
11.09%
Cash-on-Cash
-3.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93