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851 NE 1st Ave, Miami, FL, ...

Club Studio Leases Retail Space At 851 NE 1st Ave, Miami
LEASEDRetail

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

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:

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.

Players

Ted Slaughter

RealSource Group

Broker

2 deals

Broker
CIM Group
CIM GroupLandlord

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