RIVANI Sells Waterfront Restaurant Space In Miami’s Edgewater For $19.8 Million With JLL Brokers
3101 Northeast 7th Avenue
$19,800,000
$1,607/SF
Building Size
12,316 SF
Asset Type
Retail
Closing
Sep 25, 2025
AI
A retail property located at 3101 Northeast 7th Avenue in Miami was sold for $19,800,000. The asset encompasses 12,316 square feet and was previously leased to Amara at Paraiso, situated in Miami’s Edgewater district. The price per square foot for this transaction is $1,608.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $19,800,000
- Square Footage: 12,316
- Price per Square Foot: $1,608
- Seller: Robert Rivani - RIVANI
- Brokers: Alex Sharrin, Jeffrey Cicurel & Noel O'Donnell - JLL
- Buyer: Chicago-based 1031 exchange investor
The seller of the property was Robert Rivani, represented by JLL Capital Markets, highlighting the involvement of experienced brokers in the transaction. The buyer, making their first acquisition in South Florida, participated in a 1031 exchange, emphasizing a strategic investment move within the market.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93