SPARBOXING Leases Retail Space In Miami Beach At 1624 Washington Ave From Landlord 420 Lincoln Road Associates, LTD - CurrentRealEstate Brokers
1624 Washington Avenue, Miami Beach, FL, USA
Building Size
3,358 SF
Asset Type
Retail
Closing
Feb 8, 2021
AI
A retail property located at 1624 Washington Ave in Miami Beach has been leased. The property is owned by 420 Lincoln Road Associates, LTD and the tenant is Sparboxing. The lease deal was facilitated by Adam Henick, Brandon Charnas, and Stefano Santoro from Current Real Estate. The asking rent for the property was $48 per square foot, with a total square footage of 3,358.
Summary of transaction details:
- Property Type: Retail
- Transaction Date: 02/09/2021
- Address: 1624 Washington Ave, Miami Beach
- Tenant: Sparboxing
- Landlord: 420 Lincoln Road Associates, LTD
- Brokers: Adam Henick, Brandon Charnas, and Stefano Santoro from Current Real Estate
- Asking Rent: $48 per square foot
- Square Footage: 3,358
The lease transaction for the retail property at 1624 Washington Ave in Miami Beach was successfully negotiated by Adam Henick, Brandon Charnas, and Stefano Santoro from Current Real Estate. Sparboxing will be the tenant, while 420 Lincoln Road Associates, LTD will be the landlord. The asking rent for the property was $48 per square foot, with a total square footage of 3,358.
Players
Miami Beach 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