Shōwa Hospitality Signs 10-Year Lease On Lincoln Road Property Trending With Businesses
1211 Lincoln Road
Building Size
—
Asset Type
Retail
Closing
Jan 17, 2024
About this deal
AI
The retail property at 1211 Lincoln Road in Miami Beach has been leased out for a 10-year term. The space, which was previously occupied by Huahua’s Taqueria, will now be taken over by Shōwa Hospitality, owner of The Taco Stand in Wynwood. The lease agreement includes two five-year extension options.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Jonathan Fryd - Fryd Properties
- Tenant: Julian Hakim - Shōwa Hospitality - The Taco Stand
- Date: 01/17/2024
- Address: 1211 Lincoln Road
- Market: Miami Beach
Julian Hakim of Shōwa Hospitality, known for The Taco Stand, has signed a lease agreement to bring a new dining experience to Miami Beach's Lincoln Road. The transition from Huahua’s Taqueria to the upcoming Taco Stand affiliate marks a significant change in the retail landscape of the area.
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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