Joe Pozzuoli's JoesPizzaNYC Leases Retail Space In Miami For 10 Years
240 Northwest 25th Street, Miami, FL 33127
Building Size
1,758 SF
Asset Type
Retail
Closing
Sep 1, 2021
AI
The retail property located at 240 NW 25th Street in Miami has recently been leased. The lease was signed on 09/01/2021.
Summary of transaction details:
- Property Type: Retail
- Address: 240 NW 25th Street, Miami
- Market: Miami
- Tenant: Joe's Pizza NYC
- Tenant's Representative: Jared Robins from INHOUSE Commercial and John Ellis from Newmark
- Landlord: Related Group and East End Capital
- Landlord's Representatives: Tony Arellano and Joe Fernandez from DWNTWN Realty Advisors
- Asking Rent: $75/ft.
- Square Footage: 1,758 SF
- Term: 10-year lease
The tenant, Joe Pozzuoli, representing Joe's Pizza NYC, signed the lease agreement. The tenant's representatives, Jared Robins from INHOUSE Commercial and John Ellis from Newmark, assisted in the negotiation. On the other side, the landlord, Related Group and East End Capital, was represented by Tony Arellano and Joe Fernandez from DWNTWN Realty Advisors. The lease was for a period of 10 years with an asking rent of $75 per square foot.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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