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1300 Coral Way, 1312 Coral Way, And 2240 Sw 13th Avenue
SOLD

BUSLAM Acquires Development Site In Miami For $6M With Colliers International Reps

1300 Coral Way, 1312 Coral Way, And 2240 Sw 13th Avenue

Development Site
30,163 SF
clock iconSold 62 days ago
Pablo Camposano
Virgilio Fernandez
the dealplayerscompscontact
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Summary

Sale
MARYLAND
Development Site
30,163 sqft

The development site at 1300 Coral Way, 1312 Coral Way & 2240 Southwest 13th Avenue in Miami was sold for $6,000,000. Spanning 30,163 square feet, the transaction achieved a price per square foot of $199, with a price per unit of $88,000. The property's strategic location in the Coral Way corridor, offering easy access to essential amenities and a quick link to the Central Business District through the nearby Metrorail station, added to its appeal.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $6,000,000
  • Address: 1300 Coral Way, 1312 Coral Way & 2240 Southwest 13th Avenue
  • Market: Miami
  • Square Footage: 30,163
  • Price per Square Foot: $199
  • Price per Unit: $88,000

Virgilio Fernandez and Pablo Camposano of Colliers International represented the sellers in this record-setting transaction. The sale not only highlighted the residential appeal of the Coral Way corridor but also underscored the property's potential as a prime development opportunity. The strong demand for multifamily development sites in urban areas was further evidenced by a robust backup offer on the property.

Players

  • All

    3

  • Agents

    2

  • Agencies

    1

Pablo Camposano's profile picture
Pablo Camposano
Colliers International-image
Senior Director
$17.5M Sold
Virgilio Fernandez's profile picture

Details

Deal Summary
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SOLD
IMAGE: Virgilio Fernandez & Pablo Camposano DATE: 05/13/2024 ADDRESS: 1300 Coral Way, 1312 Coral Way & 2240 Southwest 13th Avenue MARKET: Miami ASSET TYPE: Development Site BUYER: BUSLAM BROKERS: Virgilio Fernandez (@Vboundless) & Pablo Camposano - Colliers International (@ColliersInternational) SALE PRICE: $6,000,000 SF: 30,163 ~ PPSF: $199 PRICE PER UNIT: $88,000 NOTE FROM BROKERS: Virgilio Fernandez (@vboundless) and Pablo Camposano, represented the sellers, achieving a record-setting price for this transaction. This sale highlights the residential appeal of the Coral Way corridor, known for its convenient access to vital amenities and reduced downtown traffic. The proximity to the Metrorail station, offering a rapid ten-minute connection to the Central Business District, further enhances the area's attractiveness. Virgilio Fernandez noted, "This transaction demonstrates the strategic appeal of the site, ideal for high-density zoning, and asserts its potential as a prime development opportunity. Priced at $88,000 per unit for an unapproved site, it underscores the premium that buyers are prepared to invest in desirable locations. The presence of a strong backup offer further attests to the robust demand for multifamily development sites in strategic urban areas." If you are considering acquiring or selling a property and seek expert guidance to optimize your investment outcomes, we are ready to assist you. Please feel free to reach out to us at your convenience at [email protected] or [email protected].

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Address1300 Coral Way, 1312 Coral Way, And 2240 Sw 13th Avenue

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