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2085 Northwest 2nd Avenue

SOLDMixed-use

Steve Rhodes Sells Mixed-Use Property In Wynwood Miami For $25 Million With Rep Tony Arellano & Devlin Marinoff

2085 Northwest 2nd Avenue, 2121 Northwest 2nd Avenue & 172 Northwest 21st Street

$25,000,000

$650/SF

Building Size

38,418 SF

Asset Type

Mixed-use

Closing

Jan 14, 2026

AI

The mixed-use property located at 2085 Northwest 2nd Avenue, 2121 Northwest 2nd Avenue & 172 Northwest 21st Street in Wynwood, Miami has a total square footage of 6,250. The sale price for this asset was $25,000,000, which translates to a price per square foot of $4,000.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $25,000,000
  • Address: 2085 Northwest 2nd Avenue, 2121 Northwest 2nd Avenue & 172 Northwest 21st Street
  • Market: Wynwood, Miami
  • Square Footage: 6,250
  • Price per Square Foot: $4,000
  • Seller: Steve Rhodes
  • Buyer's Representative: Jason Abitbol - APEX Capital Realty
  • Seller's Representatives: Tony Arellano & Devlin Marinoff - DWNTWN Realty Advisors

This transaction involved significant participation from key individuals in the real estate sector, highlighting the collaborative effort between the buyer’s representative, Jason Abitbol from APEX Capital Realty, and the seller's representatives, Tony Arellano and Devlin Marinoff from DWNTWN Realty Advisors.

Players

Tony Arellano
Verified Badge

Tony Arellano

DWNTWN Realty Advisors

Broker

$1.6B

vol

153 deals

Broker
DWNTWN Realty Advisors
DWNTWN Realty AdvisorsBrokerage

Steve Rhodes

Seller

$7.8M

vol

2 deals

Seller

Miami Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.63%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93