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315 Miracle Mile

Keith Menin And Jared Galbut Acquire Retail Property On Miracle Mile In Coral Gables For $3.72M
SOLDRetail

Keith Menin And Jared Galbut Acquire Retail Property On Miracle Mile In Coral Gables For $3.72M

315 Miracle Mile

$3,720,000

$678/SF

Building Size

5,482 SF

Asset Type

Retail

Closing

Jun 15, 2023

AI

The property at 315-317 Miracle Mile in Coral Gables has been sold. The retail asset spans a total area of 5,482 square feet. The transaction took place on June 15, 2023, with the property being purchased for a sale price of $3,720,000. The price per square foot came out to be $679.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $3,720,000
  • Address: 315-317 Miracle Mile, Coral Gables
  • Square Footage: 5,482
  • Market: Coral Gables

The buyers in this transaction were Keith Menin and Jared Galbut. The deal was facilitated by Michael Silverman of The Comras Company, who served as the broker. Keith Menin and Jared Galbut acquired the retail property with a total area of 5,482 square feet at 315-317 Miracle Mile, Coral Gables, for a sale price of $3,720,000. The transaction was successfully completed on June 15, 2023.

Players

Michael Silverman

The Comras Company

Broker

$29.6M

vol

5 deals

Broker
Keith Menin

Keith Menin

Buyer

$154.1M

vol

12 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

4.26%

Cash-on-Cash

-1.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93