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.
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