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358 San Lorenzo Ave Coral G...

Javier Cardenal Sells Retail Property In Coral Gables For $2.5M
SOLDRetail

Javier Cardenal Sells Retail Property In Coral Gables For $2.5M

358 San Lorenzo Ave Coral Gables, FL 33146, USA

$2,500,000

Building Size

Asset Type

Retail

Closing

May 12, 2023

AI

A retail property located at 358 San Lorenzo Avenue in Coral Gables has been sold for $2.5 million. The property is situated near The Shops of Merrick Park, offering a prime location in the upscale retail market.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $2,500,000
  • Date: 05/13/2023
  • Market: Coral Gables
  • Broker: Javier Cardenal - Cardenal Realty Advisors

Javier Cardenal, the President-Broker of Cardenal Realty Advisors, facilitated the sale of this retail property. The transaction serves the buyer's expansion plans in the upscale retail market, taking advantage of its strategic location near The Shops of Merrick Park.

Players

Javier Cardenal

Broker

$2.5M

vol

2 deals

Broker

Miami 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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93