Tony Ulloa & Joey Alaimo Lease Retail Space In Miami's Design District Plaza
100 Northeast 38th Street
$80
$80/SF
Building Size
8,230 SF
Asset Type
Retail
Closing
Jun 7, 2024
AI
The retail property located at 100 Northeast 38th Street in Design District Plaza, Miami, was leased in a recent transaction. The asset spans 8,230 square feet and features a diverse tenant mix including Hausscape, Le Cuisine, and Altura Stone. The landlord of this property is Mike Siegal of Karanza Apartments.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Address: 100 Northeast 38th Street - Design District Plaza
- Market: Miami
- Tenants: Hausscape, Le Cuisine, Altura Stone
- Landlord: Mike Siegal - Karanza Apartments
- Brokers: Tony Ulloa & Joey Alaimo - The Keyes Company
- Asking Rent: $80/ft. ~ SF: 8,230
Tony Ulloa and Joey Alaimo, from The Keyes Company, represented both parties in this lease transaction. The involvement of these experienced brokers underscores the significance of their role in facilitating the deal between the landlord, Mike Siegal, and the tenants Hausscape, Le Cuisine, and Altura Stone. The successful lease agreement highlights the collaborative efforts of all parties involved.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
198287.50%
Cash-on-Cash
-56671.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93