TakeTheKey LL Leases Industrial Space At 7275 Northwest 64th Street In Miami From Landlord Julio Otazo
7275 Northwest 64th Street
$25
$25/SF
Building Size
10,000 SF
Asset Type
Industrial
Closing
Apr 12, 2023
AI
The leased property at 7275 Northwest 64th Street in Miami is an industrial asset with a size of 10,000 square feet. The lease term is set for 7 years. The landlord, Julio Otazo, has secured a record-breaking lease with Takethekey Ll as the tenant in this transaction. The asking rent for the property is $25 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not applicable
- Address: 7275 Northwest 64th Street, Miami
- Market: Miami
- Landlord: Julio Otazo
- Tenant: Takethekey Ll
- Brokers: George Smith & Gregory Carett - Smith Commercial Property Group
- Asking Rent: $25/ft
- Lease Term: 7 years
This lease deal was facilitated by George Smith and Gregory Carett, representing the respective parties involved in the transaction. They ensured a successful agreement between the landlord, Julio Otazo, and the tenant, Takethekey Ll.
Note from brokers: A record-breaking lease in the area.
Players
Market 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
634520.00%
Cash-on-Cash
-181347.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93