Terra's David Martin Leases Office Space In Bay Harbor Islands For $145/SF With Tenant's Rep Marine Rollins
1177 96th Street
$145
$145/SF
Building Size
3,734 SF
Asset Type
Office
Closing
Apr 21, 2026
AI
The asset involved in this lease transaction is an office property located at 1177 96th Street in the Bay Harbor Islands market. The asking rent for the property is $145 per square foot, encompassing a total area of 3,734 square feet. The lease agreement is structured as a 10-year NNN lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $145/ft
- Square Footage: 3,734
- Address: 1177 96th Street
- Market: Bay Harbor Islands
- Lease Term: 10 years
- Lease Type: NNN Lease
- Landlord: Terra - David Martin
- Landlord's Representative: Tere Blanca, Nicole Kaiser & Danet Linares - Blanca Commercial Real Estate
- Tenant's Representative: Marine Rollins - Miami Global Realty
Representing the landlord, Tere Blanca, Nicole Kaiser, and Danet Linares from Blanca Commercial Real Estate played a significant role in this transaction. On the tenant's side, Marine Rollins from Miami Global Realty was responsible for facilitating the agreement.
Players
Surfside 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
109400.00%
Cash-on-Cash
-31266.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93