Paradox Museum Leases 10,048 SF Retail Space In Wynwood, Miami
2311 North Miami Avenue, Miami, FL 33127, USA
Building Size
10,048 SF
Asset Type
Retail
Closing
Jun 28, 2020
About this deal
AI
The Paradox Museum has leased 10,048 square feet of retail space located at 2311 North Miami Avenue in Wynwood, Miami. The long-term lease was facilitated by Tony Arellano, P.A. from DWNTWN Realty Advisors, who represented the landlord, Wynwood 2305. The asking rent for the space was $50 per square foot.
Summary of Transaction Details
- Property Type: Retail
- Address: 2311 North Miami Avenue, Wynwood, Miami
- Tenant: Paradox Museum
- Landlord: Wynwood 2305
- Broker: Tony Arellano, P.A. - DWNTWN Realty Advisors
- Asking Rent: $50 per square foot
- Square Footage: 10,048
The Paradox Museum, a leading experiential entertainment concept, will be prominently located on one of the busiest corridors in the Wynwood submarket. The museum offers the largest and most sophisticated collection of illusions in the world, along with other entertaining artistic and educational exhibits. This lease was part of DWNTWN Realty Advisor's fully leasing all spaces at 2311 North Miami Avenue.
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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