CREXi Leases Office Space At 120 NE 27th Street In Miami
120 Northeast 27th Street, Miami, FL, USA
Building Size
3,800 SF
Asset Type
Office
Closing
Jan 21, 2021
About this deal
AI
The office property located at 120 NE 27th Street in Miami has recently been leased. The tenant, CREXi, will be occupying the space, which is owned by Rail 27 Campus. The lease was brokered by Tony Arellano, P.A., of DWNTWN Realty Advisors.
Summary of Transaction Details
- Property Type: Office
- Asking Rent: $38/ft.
- Square Footage: 3,800
- Date: 01/22/2021
- Market: Miami
Tony Arellano, P.A. from DWNTWN Realty Advisors represented both CREXi, the tenant, and Rail 27 Campus, the landlord, in this lease agreement.
Miami Office Market Snapshot
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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