Miami Luxury LLC Leases Retail Space In El Portal For $15/ft
8450 Northwest 6th Court, Miami, FL, USA
Building Size
12,982 SF
Asset Type
Retail
Closing
Oct 18, 2021
About this deal
AI
A retail property located at 8450-8452 NW 6th Ct in El portal has been leased. The lease was finalized on 10/18/2021. The property spans a total of 12,982 square feet. The landlord, Plissner Florida Corp, represented by Michael A. Plissner, entered into a lease agreement with Miami Luxury LLC, doing business as Miami Luxury Cars. The tenant was represented by Isabella Muriel of Florida Capital Realty.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Asking Rent: $15/ft.
- Lease Type: NNN Lease
- Lease Terms: 5 years with option of (2) 5-year renewal
The Fitzgerald Group acted as the landlord's representative in this deal. Isabella Muriel of Florida Capital Realty served as the tenant's representative. The lease terms include an asking rent of $15 per square foot. The lease is a NNN lease and has a duration of 5 years, with the option to renew for two additional 5-year terms.
Players
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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