Joe’s Pizza Leases 1758 Square Feet At 240 NW 25th St Miami With Tenant's Rep Jared Robins
240 NW 25th St, Miami, FL, 33127
Building Size
1,758 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property involved in this transaction is a 1,758-square-foot commercial space located at 240 NW 25th St, Miami, FL, 33127, situated in the Miami market. This location is part of Wynwood 25, which features a mix of residential and retail offerings, including 289 apartment units and approximately 30,000 square feet of retail and restaurant space.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Tenant: Joe’s Pizza
- Landlord: Unknown
- Tenant's Representative: Jared Robins - Sotheby's International Realty
- Landlord's Representative: Joe Fernandez - DWNTWN Realty Advisors
In this lease transaction, Joe’s Pizza, a family-owned restaurant established in New York since 1975, is set to open its inaugural Miami location at Wynwood 25. Notable for its authentic New York street slice, the establishment aims to capitalize on the increasing New York migration into Wynwood and the area's growing residential and commercial developments. The deal was facilitated by brokers David Arellano and Devlin Marinoff, with a substantial history of investment and development activity in Wynwood.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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