Record Sales Price at 269 Miracle Mile
269 Miracle Mile Record Sales Price
A three-bay retail store located at 269 Miracle Mile was recently traded for $3,950,000 on May 24th 2016. The 4,770 square foot building was sold at a record $828 per square foot, the highest price this year for Gables retail.
The buyer GC 269 Miracle LLC is a consortium of regional investors, focused on Coral Gables real estate investments explains John Guzzo of Kerdyk Real Estate. Mr. Guzzo represented the seller Norma’s Miracle LLC in the sale while Tony DeRosa of WestVest Associates represented the buyer.
There has been a renewed interest in the City’s commercial district with the Streetscape project underway says John. Many investors see this and would like to participate. Both Giralda Avenue and the Mile will receive a complete facelift which will greatly enhance the appeal and viability of the Coral Gables primary commercial corridors. The streetscape project includes larger new pedestrian friendly sidewalks with outdoor seating, improved lighting, new landscape, and outdoor art.
Simultaneously the City is also considering a downtown overlay with many innovative planning and design concepts sure to further enhance the commercial districts urban appeal.
Kerdyk Real Estate is a full service Brokerage Firm that specializes in the Sale Leasing and Management of Commercial properties.