Terranova Corporation Acquires Retail Property On Miracle Mile In Coral Gables For $6.8M
93 Miracle Mile, Coral Gables, FL 33134
$6,800,000
$755/SF
Building Size
9,000 SF
Asset Type
Retail
Closing
Jan 5, 2022
AI
The retail property located at 93 Miracle Mile in Coral Gables has been sold for a price of $6,800,000. The property spans across 9,000 square feet, resulting in a price per square foot of $756. The transaction took place on January 5, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,800,000
- Address: 93 Miracle Mile
- Market: Coral Gables
The buyer of the property is Terranova Corporation, represented by Stephen Bittel & Mindy McIlory. On the other hand, Wexford Capital acted as the seller in the transaction.
Players
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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93