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452 Northwest North River D...

Hospitality Tycoon Roman Jones To Open 3 New Restaurants In Miami's River District
LEASEDLand

Hospitality Tycoon Roman Jones To Open 3 New Restaurants In Miami's River District

452 Northwest North River Drive, 28 Northwest North River Drive Miami, Florida 33128, Usa

Building Size

Asset Type

Land

Closing

Jul 31, 2023

AI

Roman Jones, the hospitality tycoon, has leased three parcels of land in Miami's River District for his new restaurant ventures. The properties involved in the transaction are located at 452 Northwest North River Drive, 28 Northwest North River Drive, and 668 Northwest Fifth Street. These strategically chosen locations will be the sites for three new restaurants, including a Middle Eastern concept called Habibi, an Italian eatery that will be housed in a restored 1930s riverfront restaurant, and expansions of Jones' existing eateries, Kiki on The River and Crust.

Summary of transation details

  • Property Type: Land
  • Tenant: Roman Jones
  • Address: 452 Northwest North River Drive, 28 Northwest North River Drive, 668 Northwest Fifth Street
  • Market: Miami

In this lease deal, Christian Arrabal from AdviseCRE represented Roman Jones as his broker. Arrabal facilitated the negotiations and ensured that Jones secured the desirable locations for his restaurant expansion plans. As a successful and experienced broker, Arrabal played a crucial role in helping Jones navigate the competitive Miami real estate market and secure these prime locations for his new culinary ventures.

Players

Christian Arrabal

AdviseCRE

Broker

$87.1M

vol

9 deals

Broker

Roman K. Jones

Tenant

$20M

vol

2 deals

Tenant

Stafford Land Market Snapshot

Boundary boundary · Land · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93