Terranova Corporation Acquires Retail Property On Miracle Mile In Coral Gables For $6.8M
SOLD
$6,800,000
Florida
See Similar DealsRetail9,000 SF
Sold 01/05/2022
SOLD
Terranova Corporation Acquires Retail Property On Miracle Mile In Coral Gables For $6.8M
93 Miracle Mile, Coral Gables, FL 33134
See Similar DealsRetail9,000 SF
Sold 01/05/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$755
Total Square Footage:9,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$362,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,158.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,235.47
Annual Debt Service$386,825.63
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