facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Retail

/

Lease

/

3740 Northeast 2nd Avenue, ...

Kitchens Leases 4,500 SF Luxury Retail Space In Miami's Design District
LEASEDRetail

Kitchens Leases 4,500 SF Luxury Retail Space In Miami's Design District

3740 Northeast 2nd Avenue, Miami, FL 33137

Building Size

4,500 SF

Asset Type

Retail

Closing

Apr 5, 2021

AI

3740 NE 2nd Avenue in Miami has recently been leased to Kitchens, a high-end and bespoke kitchen solutions provider. With their expertise and years of experience, Kitchens will now share their concepts and designs with the refined tastes of Miami's Design District. The retailer will occupy 4,500 square feet of luxury retail space in the unforgettable showroom located at 3740 NE 2nd Avenue.

Summary of transaction details

Leading the deal were Tony Arellano, P.A. and Joe Fernandez from DWNTWN Realty Advisors, along with Alex Cesar from CBRE. Their expertise and extensive networks played a crucial role in facilitating this lease agreement between Kitchens and the landlord of 3740 NE 2nd Avenue.

Players

Tony Arellano
Verified Badge

Tony Arellano

DWNTWN Realty Advisors

Broker

$1.6B

vol

152 deals

Broker

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