Club Studio Leases Retail Space At 851 NE 1st Ave, Miami
851 NE 1st Ave, Miami, FL, 33132
Building Size
35,363 SF
Asset Type
Retail
Closing
Dec 19, 2022
About this deal
AI
The retail property located at 851 NE 1st Ave, Miami, FL, 33132, with a total square footage of 35,363 square feet, was recently leased on December 19, 2022. The lease transaction involved Club Studio as the tenant and CIM Group as the landlord.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Tenant: Club Studio
- Tenant's Rep: Ted Slaughter (RealSource Group)
- Landlord: CIM Group
- Market: Miami
- Square Feet: 35,363
Ted Slaughter from RealSource Group represented Club Studio in this lease transaction, while CIM Group acted as the landlord for the property. The deal showcased a successful agreement between the tenant and the landlord, further solidifying business relationships within the Miami retail market.
On the Map
Retail
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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