Rockpoint Group Leases Retail Space To Novecento In Brickell, Miami
901 South Miami Avenue, Downtown Miami, Miami, FL, USA
Building Size
6,544 SF
Asset Type
Retail
Closing
Oct 7, 2021
About this deal
AI
The retail property located at 901 S Miami Avenue in Brickell, Miami has been leased in a long-term agreement. The property spans approximately 6,544 square feet and features an asking rent of $100 per square foot.
Summary of transaction details
- Property Type: Retail
- Date: 10/07/2021
- Market: Brickell, Miami
- Landlord: Rockpoint Group
- Tenant: Novecento
- Broker: John Ellis - Newmark
- Asking Rent: $100/ft.
- Lease Terms: long-term
The Rockpoint Group acted as the landlord in this lease transaction, while Novecento will be the new tenant. The deal was facilitated by broker John Ellis from Newmark.
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