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Northwest 53rd Terrace

Joe Echevarria Of UHealth Leases 11243 Square Feet At 8375 Northwest 53rd Terrace In Miami
LEASEDRetail

Joe Echevarria Of UHealth Leases 11243 Square Feet At 8375 Northwest 53rd Terrace In Miami

Northwest 53rd Terrace

Building Size

11,243 SF

Asset Type

Retail

Closing

Jan 24, 2025

AI

The property is 11,243 square feet located at 8375 Northwest 53rd Terrace in the Miami market. This retail asset is part of a larger 25,000-square-foot retail expansion by Codina Partners.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Landlord: Ana-Marie Codina & Armando Codina - Codina Partners
  • Tenant: Joe Echevarria - UHealth
  • New Facility: Bascom Palmer Eye Institute and physical therapy services
  • Additional Tenants: Sweat 440 and Pura Vida
  • Groundbreaking Date: Q1 2025

Joe Echevarria represents UHealth in the leasing of the property, while Ana-Marie Codina and Armando Codina represent Codina Partners as the landlords. This collaboration marks a significant addition to the retail offerings in Downtown Doral.

Players

Miami Springs 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