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7100 North Miami Avenue

Rodney Scott's Whole Hog BBQ Signs Lease For 3700 Square Feet At 7100 North Miami Avenue
LEASEDRetail

Rodney Scott's Whole Hog BBQ Signs Lease For 3700 Square Feet At 7100 North Miami Avenue

7100 North Miami Avenue

Building Size

3,700 SF

Asset Type

Retail

Closing

Jan 27, 2025

AI

The property involved in this transaction is a retail space located at 7100 North Miami Avenue in Miami. It encompasses 3,700 square feet and is situated in the Little River area, where the market is poised for growth with increasing commercial activity.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Landlord: Benjamin Weprin - Adventurous Journeys Capital Partners (AJ Capital Partners)
  • Tenant: Nick Pihakis - Rodney Scott's Whole Hog BBQ
  • Lease Date: 01/27/2025
  • First Florida location for Rodney Scott's Whole Hog BBQ

Benjamin Weprin, representing Adventurous Journeys Capital Partners, is the landlord in this deal, while Nick Pihakis represents the interests of Rodney Scott's Whole Hog BBQ, the new tenant in the retail space. The restaurant is part of the Pihakis Restaurant Group and is set to open later this year, showcasing South Carolina-style whole hog barbecue.

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