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RIVANI Sells Waterfront Restaurant Space In Miami’s Edgewater For $19.8 Million With JLL Brokers
SOLD
$19,800,000
+ 1
Florida
See Similar DealsRetail12,316 SF
Sold 09/25/2025
SOLD
RIVANI Sells Waterfront Restaurant Space In Miami’s Edgewater For $19.8 Million With JLL Brokers
3101 Northeast 7th Avenue
See Similar DealsRetail12,316 SF
Sold 09/25/2025
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,607
Total Square Footage:12,316 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,056,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$70,345.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$93,862.10
Annual Debt Service$1,126,345.22
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