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
About this deal
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.
On the Map
Retail
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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