J. Michael Arrington Acquires Single Family Home In Coral Gables For $16M
SOLD
$16,000,000
+ 2
Florida
See Similar DealsSingle Family Residence7,518 SF
Sold 05/14/2021
SOLD
J. Michael Arrington Acquires Single Family Home In Coral Gables For $16M
9375 Balada St, Coral Gables, FL, USA
See Similar DealsSingle Family Residence7,518 SF
Sold 05/14/2021
+ 2
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$2,128
Total Square Footage:7,518 SF
Transaction Type:Sale
Located at 9375 Balada St in Coral Gables, this single-family property was recently sold in a closed transaction. The property spans 7,518 square feet, with a price per square foot of $2,128. The sale price totaled $16,000,000.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $16,000,000
- Address: 9375 Balada St
- Market: Coral Gables
- Square Footage: 7,518
- Price Per Square Foot: $2,128
The buyer of the property was J. Michael Arrington, while the seller was Daniel Hughes, representing Metro Commercial. The buyer was represented by Matthew Elliott and Victor Olaniel from The Corcoran Group, and the seller was represented by Jessica Adams from One Sotheby's International Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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