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11665 South Dixie Highway

MisterO1 Extraordinary Pizza Leases Retail Space In Pinecrest For 10 Years
LEASEDRetail

MisterO1 Extraordinary Pizza Leases Retail Space In Pinecrest For 10 Years

11665 South Dixie Highway

Building Size

2,730 SF

Asset Type

Retail

Closing

Apr 26, 2024

AI

The retail property located at 11665 South Dixie Highway in Pinecrest spans 2,730 square feet. The landlord, MMG Pinecrest Shoppes LLC, recently finalized a 10-year lease agreement with Renato Viola & Umberto Mascagni, who will be operating MisterO1 Extraordinary Pizza at this location.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 11665 South Dixie Highway
  • Market: Pinecrest
  • Landlord: MMG Pinecrest Shoppes LLC
  • Tenant: Renato Viola & Umberto Mascagni - MisterO1 Extraordinary Pizza
  • Landlord's Rep: Danny Pou - Horizon Properties
  • Tenant's Rep: Michelle Gonzalez - Floridian First Realty
  • Lease Term: 10-year

Michelle Gonzalez, representing Floridian First Realty, played a key role in securing a new 10-year lease for MisterO1 Extraordinary Pizza at Pinecrest Shoppes. The decision to open the modern pizzeria in Pinecrest was driven by customer demand and the area's family-friendly atmosphere, which resonates with the brand's core values and target demographic.

Players

Michelle Gonzalez

Floridian First Realty

Broker

$8.5M

vol

6 deals

Broker

Pinecrest 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