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6240 North Miami Avenue

Light Tree Ventures Leases Miami Mixed-Use Property On North Miami Avenue For 4 Years
LEASEDMixed-use

Light Tree Ventures Leases Miami Mixed-Use Property On North Miami Avenue For 4 Years

6240 North Miami Avenue

$41

$41/SF

Building Size

5,500 SF

Asset Type

Mixed-use

Closing

Feb 1, 2024

AI

The mixed-use property located at 6240 North Miami Avenue in Miami has been leased. The landlord, MIS 6240 MC, represented by Emilia Howard from Gridline Properties, has entered into a lease agreement with Light Tree Ventures. The tenant, represented by Lyndsey Kaplan from AIM Wealth Realty, will occupy the space for a lease term of 4 years.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: Not specified
  • Asking Rent: $41/ft. ~ SF: 5,500
  • Address: 6240 North Miami Avenue
  • Market: Miami

Emilia Howard from Gridline Properties acted as the landlord's representative, while Lyndsey Kaplan from AIM Wealth Realty represented Light Tree Ventures as their tenant's representative.

Players

Emilia Howard

Gridline Properties

Broker

$4.3M

vol

3 deals

Broker

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

386902.44%

Cash-on-Cash

-110577.90%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93