Billionaire Boys Club Leases Retail Space At 2545 NW Third Ave. In Miami
2545 NW 3rd Ave, Miami, FL, USA
Building Size
5,700 SF
Asset Type
Retail
Closing
Nov 19, 2020
AI
Billionaire Boys Club has signed a lease agreement with Lerner Family Properties for a retail space located at 2545 NW Third Ave. in Miami. The property, with a total square footage of 5,700, was recently leased for a rental rate of $50 per square foot. The lease transaction was facilitated by David Lerner of Dwntwn Realty Advisors.
Summary of transation details
- Property Type: Retail
- Transaction Date: November 20, 2020
- Address: 2545 NW Third Ave., Miami
- Tenant: Billionaire Boys Club
- Landlord: Lerner Family Properties
- Broker: David Lerner - Dwntwn Realty Advisors
- Asking Rent: $50 per square foot
Dwntwn Realty Advisors, represented by David Lerner, played a crucial role in facilitating the lease agreement between Billionaire Boys Club and Lerner Family Properties for the retail space in Miami. The deal was successfully negotiated with a rental rate of $50 per square foot for a total area of 5,700 square feet.
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