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100 Northeast 38th Street

Tony Ulloa & Joey Alaimo Lease Retail Space In Miami's Design District Plaza
LEASEDRetail

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

Tony Ulloa

The Keyes Company

Broker

$79.2M

vol

9 deals

Broker

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