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2850 Salzedo Street

Michael Light, Arden Karson & Olga Granda Facilitate $5.7M Retail Sale In Coral Gables
SOLDRetail

Michael Light, Arden Karson & Olga Granda Facilitate $5.7M Retail Sale In Coral Gables

2850 Salzedo Street

$5,700,000

$783/SF

Building Size

7,275 SF

Asset Type

Retail

Closing

Apr 29, 2024

AI

The retail property located at 2850 Salzedo Street in Coral Gables was recently sold for $5,700,000. Spanning 7,275 square feet, the property was transacted at a price per square foot of $784.

Summary of transaction details:

The deal was facilitated by Arden Karson from Karson & Co and Michael Light from Douglas Elliman, representing the buyer, while Olga Granda from Odelphia represented the seller in this transaction.

Players

Michael Light

Douglas Elliman

Broker

$78.7M

vol

8 deals

Broker

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

2.78%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93