Starbucks, Moon Thai site on South Dixie Highway in Coral Gables for sale: $7M

Miami /
Aug.August 31, 2016 12:00 PM

A popular University of Miami hangout along South Dixie Highway in Coral Gables is now for sale after more than 50 years under the same ownership.

The building, occupied by Starbucks and a Moon Thai & Japanese restaurant, is on the market for $6.9 million, listing agent Marcos Puente told The Real Deal.

Starbucks has 1.5 years left on its lease, while Moon Thai has 7.5 years left, according to marketing materials. Together, they have a net operating income of about $307,500 for the first year.

The 5,546-square-foot building, at 1114 South Dixie Highway, was developed in 1955 and sits on a 15,000-square-foot lot. Property records show Konhauzer Inc. is the owner. Previous sales information is not available online, but Puente said it’s been with the same owner for more than 50 years. Jeffrey J. Weiss heads Boca Raton-based Konhauzer, corporate records show.

The property in Coral Gables is separated from the University of Miami by U.S. 1 and Ponce de Leon Boulevard. The U.S. 1 corridor has been heating up with increased commercial activity and new projects over the past few years.

In April of last year, a group of investors paid $16.5 million for Riviera Plaza, a two-story, mixed-use shopping center at 1541 South Dixie Highway. There, the Gadinsky Real Estate, Echion USA and 13th Floor Investments partnership has submitted plans to the city for a new Publix store. Closer to the Shops at Sunset Place, a Wendy’s on the corner of Red Road and U.S. 1 sold for $9 million, also last year. Puentes, who’s active along the corridor, brokered that sale.


Related Articles

arrow_forward_ios
High court: Federal judge sides with Miami landlords in marijuana dispensary fight
High court: Federal judge sides with Miami landlords in marijuana dispensary fight
High court: Federal judge sides with Miami landlords in marijuana dispensary fight
Lease roundup: Slalom opens first South Florida office in Wynwood, 10 tenants sign at 800 Brickell
Lease roundup: Slalom opens first South Florida office in Wynwood, 10 tenants sign at 800 Brickell
Lease roundup: Slalom opens first South Florida office in Wynwood, 10 tenants sign at 800 Brickell
John Ruiz sells waterfront Coral Gables mansion for $14M
John Ruiz sells waterfront Coral Gables mansion for $14M
John Ruiz sells waterfront Coral Gables mansion for $14M
Fortune International Realty’s former Miami office sells for $8M
Fortune International Realty’s former Miami office sells for $8M
Fortune International Realty’s former Miami office sells for $8M
Developer Bill Hutchinson, seen here in court and alongside his mugshot (Getty, Highland Park Police Department)
Facing assault charges, developer sells Miami home, lists Cali properties
Facing assault charges, developer sells Miami home, lists Cali properties
10660 Southwest 40th Street (Google Maps)
Tate Capital sells CVS Pharmacy y más location near Kendall for $16M
Tate Capital sells CVS Pharmacy y más location near Kendall for $16M
Bar Invest Group CEO Jacques Barbera and MV Group USA CEO Manny Varas with 440 Costanera Road (Bar Invest Group, MV Group USA)
Builder sells his Cocoplum home to Bar Invest CEO for $16M
Builder sells his Cocoplum home to Bar Invest CEO for $16M
John Ruiz with 530 Arvida Parkway (LPG for One Sotheby’s International Realty, John Ruiz)
Fresh off Lionheart SPAC merger, John Ruiz drops $25M on Gables Estates mansion
Fresh off Lionheart SPAC merger, John Ruiz drops $25M on Gables Estates mansion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...