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3385 Pan American Dr, Miami...

Sara Wolfe Of Vertical Real Estate Secures Lease Deal In Miami Mixed-Use Development
LEASEDMixed-use

Sara Wolfe Of Vertical Real Estate Secures Lease Deal In Miami Mixed-Use Development

3385 Pan American Dr, Miami, FL, 331...

Building Size

15,000 SF

Asset Type

Mixed-use

Closing

Nov 22, 2023

AI

The property at 3385 Pan American Drive in Miami, FL, is a mixed-use asset encompassing 15,000 square feet of space. It is situated within the Regatta Harbour development, a 9.5-acre mixed-use project in Miami. Anatomy, a fitness community integrating exercise with wellness and beauty, has opened its fourth South Florida location at Regatta Harbour, making it the first tenant at this location.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: Not specified in the context
  • Landlord: The TREO Group
  • Landlord's Representative: Sara Wolfe (Vertical Real Estate)
  • Market: Miami

Lyle Stern and Sara Wolfe, from the Koniver Stern Group, are overseeing the leasing of the commercial space at Regatta Harbour. The TREO Group, a Miami-based real estate investment firm, owns the property and is involved in the development of the project. The location offers various amenities such as "The Sanctuary," cardio and strength equipment, group fitness classes, outdoor workout programming, and a Kids Club, catering to both fitness enthusiasts and families.

Players

Sara Wolfe

Vertical Real Estate

Broker

3 deals

Broker
TG
Treo GroupLandlord

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