Crema Gourmet Leases Retail Space In Miami From Sterling Equities For $65/ft
125 Northeast 32nd Street
$65
$65/SF
Building Size
2,616 SF
Asset Type
Retail
Closing
May 9, 2024
AI
The retail property located at 125 Northeast 32nd Street in Miami was leased in a transaction involving Sterling Equities as the landlord and Crema Gourmet as the tenant. The leasing deal was facilitated by DWNTWN Realty Advisors represented by Joe Fernandez, Rayza Perez, and Tony Arellano. The property features a total area of 2,616 square feet with an asking rent of $65 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 125 Northeast 32nd Street
- Market: Miami
- Landlord: Sterling Equities
- Tenant: Crema Gourmet
- Landlord's Rep: Joe Fernandez, Rayza Perez & Tony Arellano - DWNTWN Realty Advisors
- Asking Rent: $65/ft. ~ SF: 2,616
The leasing transaction underscores the collaborative efforts of multiple parties, with Sterling Equities as the property owner and Crema Gourmet securing the lease. The involvement of DWNTWN Realty Advisors, through their representatives Joe Fernandez, Rayza Perez, and Tony Arellano, showcases the professional coordination that led to the successful leasing of this retail space in Miami.
Players
Miami 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
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93