The Ibrow Spa LLC Leases 2,400 SF Retail Space At Miramar Park Place Associates For $55/ft. NNN Lease
11225 Miramar Parkway, Miramar, Florida 33023, United States
Building Size
2,400 SF
Asset Type
Retail
Closing
Jan 26, 2022
AI
The Miramar Park Place Retail Development in Miramar has recently leased a retail space located at 11225 Miramar Pkwy. The property spans 2,400 square feet and is part of a new retail development. The lease terms are set for a period of 10 years, with a lease type of NNN Lease. The Ibrow Spa LLC has secured the lease for this retail space.
Summary of transaction details:
- Property Type: Retail
- Transaction Date: 01/12/2022
- Address: 11225 Miramar Pkwy - Miramar Park Place Retail Development
- Market: Miramar
In this deal, The Ibrow Spa LLC was represented by Juliana Yepes from Real Estate Sales Force, Inc. The landlord, Miramar Park Place Associates, was represented by Karen Maerovitz from Katz & Associates. The asking rent for this retail space was $55 per square foot.
Players
Miramar 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93