Caribean Gourmet Leases Retail Space In North Miami Beach From La Fontana Shops With Jonathan Molano As The Broker
10990 Biscayne Boulevard, Miami, Florida 33161, United States
Building Size
5,000 SF
Asset Type
Retail
Closing
Apr 29, 2021
About this deal
AI
Caribean Gourmet has leased a retail space located at 10990 Biscayne Blvd & NE 109th St in North Miami Beach. The property, known as La Fontana Shops, offers a total square footage of 5,000. The landlord of the space is La Fontana Shops, and the lease deal was facilitated by Jonathan Molano from an undisclosed agency. The asking rent for the space was $51 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 10990 Biscayne Blvd & NE 109th St, North Miami Beach
- Tenant: Caribean Gourmet
- Landlord: La Fontana Shops
- Broker: Jonathan Molano
- Asking Rent: $51/ft.
- Square Footage: 5,000
The lease transaction for the retail space at 10990 Biscayne Blvd & NE 109th St was successfully completed with the assistance of Jonathan Molano, a broker representing Caribean Gourmet. The transaction details highlight the importance of having a broker who can facilitate the negotiations between the tenant and the landlord, ensuring a mutually beneficial agreement.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Deal FAQ
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