5246 SW 8th St
Coral Gables, FL 33134
2012 Renovated Coral Gables Office Building · Office Property For Sale

Real Capital Partners is pleased to offer 5246 SW 8th St with a 2.5% buy side procurement fee. This building was fully renovated in 2012. Originally built in 1980. In 2012 it underwent improvements of over 80% of the structure which required 100% present building code compliance. Roof, structural, electrical, insulation, plumbing, mechanical, emergency exits, interior improvements, and parking are some the examples of the capital improvement renovations of 2012. It offers 21,736 Gross Building Area and 17,625 SF Rentable Building Area. Owner Financing is available at 5% Interest Only, 65% Loan to Value. This building is ideally suited for an owner user considering many of the leases are set to expire in the near future. The 2012 renovated distribution of the building was designed for owner use. The City of Coral Gables allows for a maximum 10,500 SF of medical office use in this building. This building offers favorable parking for Coral Gables. It has 46 dedicated parking spaces, 2.6 parking spaces / 1,000 SF of Rentable Building Area. For those potential owners looking to maximize on exposure and visibility,the subject property offers a traffic count of 42,000 vehicles per day according to the Florida Department of Transportation. The property is currently 87.38% occupied. The average rents are $34.01/SF. Management traditionally does not give more than a 12 month lease term. Operating Expenses run 37.67% of EGI giving us a cap rate of 5.10%. Call Carlos Ruiz at 305-216-4397 or email cruiz@rcpfl.com for the rent roll. Comparable sales for owner user buildings located in Coral Gables along the 8th St Corridor show this building is priced correctly. An owner user can obtain seller financing for 5% Interest Only, 65% Loan to Value. Mortgage Payments would be only $12.40/SF. RE taxes and Insurance would cost another $4.43/SF. The total monthly obligation would be $16.83/SF, about 45% of market rent. Call Carlos Ruiz if you have any questions, 305-216-4397. The property is located near minutes from Downtown, Coconut Grove, South Miami, West Miami as well as the Palmetto Expressway (SR-826), and Dolfin Expressway (SR-836).