Historic Coral Gables Mixed-Use Building Finds New Owner
Sperry Van Ness Commercial Advisor John C. Lonardo, CCIM has brokered the sale of the John M. Stabile Building, one of Coral Gables earliest commercial buildings located in the CBD “Museum District.”
The 4,933-square-foot historic Mediterranean Revival building, located at the corner of Aragon Avenue and Salzedo Street, sold for $1,961,500, which equates to $398 per square foot.
Space Coast Credit Union has been a tenant in the building for ten years and has renewed their lease. The seller Julius Ser, has operated a book store and gift shop at the corner for the past 40 years, and sold the property to 290 Aragon LLC., Ray Valori Managing Member.
The new owner plans to renovate the building and re-let the corner retail space and 2nd floor loft office suite.
Lonardo, a Coral Gables commercial specialist, was the sole broker in the transaction.
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