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
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