Wynwood Architects Signs 5-Year NNN Lease With Zelcer Family For 20000 SF Industrial Space
1756 Northwest 23rd Street
$18
$18/SF
Building Size
20,000 SF
Asset Type
Industrial
Closing
Aug 11, 2025
AI
This industrial asset is located at 1756 Northwest 23rd Street in Miami, with a lease term of 5 years under a NNN lease structure. The asking rent is set at $18 per square foot for a total of 20,000 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $18/ft
- Lease Term: 5 years
- Lease Type: NNN Lease
- Landlord: Zelcer Family
- Tenant: Wynwood Architects
- Broker: Noah Ohayon - AXIOM Capital Advisors
Noah Ohayon of Axiom Capital Advisors successfully represented both the Zelcer Family and Wynwood Architects in this leasing transaction, marking a significant achievement in the Allapattah submarket.
Players
Miami Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
881277.78%
Cash-on-Cash
-251871.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93