Real Madrid Café Leases Retail Space At 340 SE 3rd St, Miami
340 SE 3rd St, Miami, FL, 33132
Building Size
12,000 SF
Asset Type
Retail
Closing
Jun 29, 2017
AI
The Real Madrid Café, a 12,000-square-foot, two-story retail space located at 340 Southeast Third Street in Miami, FL, 33132, is set to open at Met Square in downtown Miami in early 2018. The facility will feature a restaurant, bar, Real Madrid-themed merchandise store, and VIP Lounge. The lease was brokered by Lyle Stern of the Koniver Stern Group on behalf of MDM Group, the developer of Met Square.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Tenant: Real Madrid Café
- Square Feet: 12,000
- Market: Miami
- Tenant's Rep: Kevin Lurie
- Landlord: MDM Group
- Tenant's Rep Agency: Creative Realty Group, LLC
Kevin Lurie, from Creative Realty Group, LLC, represented Real Madrid Café in the deal. The Real Madrid Café is part of the American Franchise Group's partnership with Real Madrid across the Americas. Met Square, the location where the café will be situated, will also include a Silverspot Cinema, additional restaurants, retail outlets, and residences upon its completion.
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