Michael Steffens Leases Retail Space To AMI AMI At 318 Miracle Mile For 10 Years
318 Miracle Mile
$70
$70/SF
Building Size
2,700 SF
Asset Type
Retail
Closing
May 13, 2025
About this deal
AI
The property involved is located at 318 Miracle Mile in the Coral Gables market. It is a retail asset with an asking rent of $70 per foot and covers a square footage of 2,700. The lease term is set for 10 years, under a NNN lease type.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $70/ft
- Lease Term: 10 years
- Lease Type: NNN Lease
- Landlord: Michael Steffens
- Tenant: AMI AMI
- Tenant's Representative: Fabio Faerman & Sebastian Faerman - FA Commercial
This transaction features key individuals such as the landlord, Michael Steffens, and the tenant, AMI AMI. The tenant's representation was provided by Fabio Faerman and Sebastian Faerman from FA Commercial, who facilitated the agreement between the landlord and tenant.
On the Map
$70
$70/SF
Retail
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Players
Coral Gables 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
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93