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50 Northwest 23rd Street Mi...

The Salty Donut Expands To Larger Storefront Within Wynwood Jungle In Miami
LEASEDRetail

The Salty Donut Expands To Larger Storefront Within Wynwood Jungle In Miami

50 Northwest 23rd Street Miami, Miami, FL 33127, USA 33127, USA

Building Size

33,000 SF

Asset Type

Retail

Closing

May 11, 2023

AI

The property asset involved in the transaction is located at 50 Northwest 23rd Street in Miami. This retail space encompasses 33,000 square feet and will serve as the new location for The Salty Donut, a Miami-based doughnut shop that is expanding to a larger 2,700-square-foot storefront within its existing location at the Wynwood Jungle retail destination.

Summary of transaction details:

  • Property Type: Retail
  • Tenant: The Salty Donut
  • Landlord: Black Lion Investment Group
  • Landlord's Representative: Robert Rivani

The deal marks a significant move for The Salty Donut, which will feature a large kitchen, a window into the kitchen, a private meeting room, and a pick-up window for online orders in the new storefront.

Players

Robert Rivani

Black Lion

Landlord

$573M

vol

55 deals

Landlord
TD
The Salty DonutTenant

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