Divisadero Street Capital Leases 4,673 SF Office Space From Landlord Robert Rivani In Miami Beach
1691 Michigan Avenue
Building Size
4,763 SF
Asset Type
Office
Closing
Jan 4, 2026
About this deal
AI
The property asset involved in the transaction is an office space located at 1691 Michigan Avenue in the Miami Beach market. The total square footage of the asset is 4,673. The lease agreement is structured as a NNN Lease. The landlord of the property is Robert Rivani.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not available
- Square Footage: 4,673
- Address: 1691 Michigan Avenue
- Market: Miami Beach
- Landlord: Robert Rivani
- Tenant: Divisadero Street Capital
- Brokers: Jeremy Hakala & Matt Himmelsbach - Newmark
Divisadero Street Capital is transitioning its operations from Coconut Grove to Miami Beach. The lease represents the company's strategic move to occupy a space within Robert Rivani's trophy office building, RIVANI Miami Beach.
On the Map
Office
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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