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2916 N Miami Ave Miami, FL ...

Central Rock Gym Leases 10,175 SF Retail Space In The Gateway At Wynwood Office Building In Miami
LEASEDRetail

Central Rock Gym Leases 10,175 SF Retail Space In The Gateway At Wynwood Office Building In Miami

2916 N Miami Ave Miami, FL 33127, USA

$65

$65/SF

Building Size

10,175 SF

Asset Type

Retail

Closing

Jun 28, 2023

AI

Central Rock Gym has leased a 10,175-square-foot space in The Gateway at Wynwood office building in Miami. The gym is set to open in early 2024, and this lease agreement marks its first location in South Florida, filling the retail component of the building.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $65/ft.
  • Square Footage: 10,175 SF
  • Address: 2916 North Miami Avenue, Miami
  • Market: Miami

Katz & Associates and CBRE represented Central Rock Gym and the landlord R&B Realty Group, respectively, in brokering the lease agreement for the space at The Gateway at Wynwood office building.

Players

Alex Cesar

CBRE

Broker

$6.2M

vol

3 deals

Broker

Shelby Rosenberg

R&B Realty Group

Landlord

$4.5M

vol

2 deals

Landlord
CG
Central Rock GymTenant

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

244046.15%

Cash-on-Cash

-69749.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93