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240 NW 25th St, Miami, FL, ...

Joe’s Pizza Leases 1758 Square Feet At 240 NW 25th St Miami With Tenant's Rep Jared Robins
LEASEDOffice

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:

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

Joe Fernandez

DWNTWN Realty Advisors

Broker

$56M

vol

15 deals

Broker

Miami Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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