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232 Coral Way, Coral Gables...

Terranova Corporation Acquires Retail Property In Coral Gables For $7.8M
SOLDRetail

Terranova Corporation Acquires Retail Property In Coral Gables For $7.8M

232 Coral Way, Coral Gables, FL 33134, USA

$7,800,000

$711/SF

Building Size

10,960 SF

Asset Type

Retail

Closing

Oct 21, 2021

AI

The retail property located at 232 Coral Way & 330 Miracle Mile in Coral Gables has been sold for a price of $7,800,000. The property spans across 10,960 square feet, resulting in a price per square foot of $730. The seller in this transaction was Will of Mildred W Brown, LLC.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $7,800,000
  • Square Footage: 10,960
  • Price per Square Foot: $730
  • Market: Coral Gables

The buyer of this property is Terranova Corporation, represented by Stephen Bittel. Terranova Corporation is a prominent real estate company. Stephen Bittel played a key role in this transaction as the representative of the buyer.

Players

Stephen Bittel

Terranova Corporation

Buyer

$326.6M

vol

11 deals

Buyer

Coral Gables Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.03%

Cash-on-Cash

-0.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93