Well Society Leases Retail Space At 1820 Bay Road Miami Beach For 10 Years At $85/ft
1820 Bay Road
$85
$85/SF
Building Size
2,218 SF
Asset Type
Retail
Closing
Oct 22, 2024
AI
This retail asset is located at 1820 Bay Road in the Miami Beach market. The property has a total square footage of 2,218 and has been leased under a NNN lease structure for a term of 10 years. The asking rent for this space is $85 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1820 Bay Road
- Market: Miami Beach
- Tenant: Well Society
- Lease Term: 10 Years
- Lease Type: NNN Lease
- Asking Rent: $85/ft
- Square Footage: 2,218
- Brokers: Max Gelband & Samuel Noddle - The Comras Company
The leasing transaction was facilitated by brokers Max Gelband and Samuel Noddle, who represent The Comras Company. Their involvement underscores the professional support provided to secure this lease for the tenant, Well Society.
Players
Miami Beach 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
186623.53%
Cash-on-Cash
-53337.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93