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10990 Biscayne Boulevard, M...

Updated Oct 28, 2024

Caribean Gourmet Leases Retail Space In North Miami Beach From La Fontana Shops With Jonathan Molano As The Broker
LEASEDRetail

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

LS
La Fontana ShopsLandlord

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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

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