Chip City Cookies To Open Two Locations In Miami Beach & Miami, Florida
1935 West Ave Miami Beach, FL 33139, USA
Building Size
2,280 SF
Asset Type
Retail
Closing
Jul 21, 2023
AI
The lease of a retail space in Miami Beach and Miami has been finalized. The property, located at 1935 West Avenue in Miami Beach and 7285 Biscayne Boulevard in Miami, boasts a total area of 2,280 square feet. The lease transaction involves the tenant, Chip City Cookies, and the brokers, Jared Robins and Justin Lee from Inhouse Commercial.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 1935 West Avenue, Miami Beach & 7285 Biscayne Boulevard, Miami
- Market: Miami Beach & Miami
- Tenant: Chip City Cookies - Peter Phillips & Theodore Gailas
- Brokers: Jared Robins & Justin Lee - Inhouse Commercial
Chip City Cookies, a gourmet shop originally from New York, is planning to expand its presence in South Florida. They have secured two locations for their stores. The first one will be situated in Miami Beach's Sunset Harbour neighborhood. Following that, the second store will be opened in the MiMo district.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93