Publix Super Markets Acquires Retail Property In Coral Gables For $23M
SOLD
$23,000,000
Florida
See Similar DealsRetail55,000 SF
Sold 04/13/2020
SOLD
Publix Super Markets Acquires Retail Property In Coral Gables For $23M
1542 South Dixie Highway, Coral Gables, FL, USA
See Similar DealsRetail55,000 SF
Sold 04/13/2020
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$418
Total Square Footage:55,000 SF
Transaction Type:Sale
A retail property located at 1542 South Dixie Highway in Coral Gables has been sold for $23,000,000. The property spans across 55,000 square feet, with a price per square foot of $418. The transaction took place on April 13, 2020.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $23,000,000
- Address: 1542 South Dixie Highway, Coral Gables
- Market: Coral Gables
- Square Footage: 55,000
- Price per Square Foot: $418
The buyer of the property is Publix Super Markets, represented by Todd Jones. The seller of the property is Riviera Holdings Plaza LP, which is owned by 13th Floor Investments, Gadinsky Real Estate, and Echion USA.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,226,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,714.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,031.73
Annual Debt Service$1,308,380.81
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