Saikuk Restaurant Leases Mixed-Use Space In Miami's Magic City Innovation District For $32/ft
250 NE 61st St, Miami, FL, USA
Building Size
10,610 SF
Asset Type
Mixed-use
Closing
Jul 15, 2021
About this deal
AI
The mixed-use property located at 250 & 270 NE 61st St in Miami has been leased. The lease was completed on July 15, 2021. The property is situated in the Magic City Innovation District - Little Haiti.
Summary of transaction details:
- Property Type: Mixed-use
- Date: 07/15/2021
- Address: 250 & 270 NE 61st St
- Market: Miami
Saikuk Restaurant is the tenant of the property. The landlord is the Magic City Innovation District - Little Haiti. Reid Heidenry and Jeremy Hakala represented Saikuk Restaurant as their tenant's representatives. Juan Andres Nava from Metro 1 served as the landlord's representative.
The asking rent for the property is $32 per square foot, and the total leasable area is 10,610 square feet.
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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