Intercredit Bank Leases Office Space At 860 Northwest 42nd Avenue For Seven Years
860 Northwest 42nd Avenue
$31
$31/SF
Building Size
24,958 SF
Asset Type
Office
Closing
Aug 17, 2025
About this deal
AI
The property asset involved in this transaction is an office space located at 860 Northwest 42nd Avenue in the Miami market. The total square footage of the asset is 24,958, and it operates under a NNN lease for a term of 7 years, with an asking rent of $31 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31/ft
- Lease Term: 7 Years
- Lease Type: NNN Lease
- Landlord: 850 Lejeune Towers
- Tenant: Intercredit Bank
- Tenant's Rep: Brandon Abate & Manny Chamizo III - One Sotheby's International Realty
This transaction reflects the collaboration between key individuals from One Sotheby's International Realty, specifically Brandon Abate and Manny Chamizo III, who represented Intercredit Bank in the leasing deal. The landlord for this property is identified as 850 Lejeune Towers.
On the Map
$31
$31/SF
Office
View full map
Players
Miami Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Visit Manny Chamizo III to view all their deals.
Browse Miami office leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
511709.68%
Cash-on-Cash
-146248.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93