Steve Rhodes Sells Mixed-Use Property In Wynwood Miami For $25 Million With Rep Tony Arellano & Devlin Marinoff
$25,000,000
SOLD
$25,000,000
+ 1
Florida
See Similar DealsMixed-use38,418 SF
Sold 01/15/2026
$25,000,000
SOLD
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
See Similar DealsMixed-use38,418 SF
Sold 01/15/2026
+ 1
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$650
Total Square Footage:38,418 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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