Michael Betancourt Of Katz & Associates Leases Retail Space In Coral Gables For $45/SF
808 Ponce De Leon BLVD, Coral Gable...
$45
$45/SF
Building Size
1,530 SF
Asset Type
Retail
Closing
May 4, 2018
About this deal
AI
The property at 808 Ponce De Leon Boulevard, Coral Gables, is a retail asset comprising 1,530 square feet. The asking rent for this space was $45 per square foot, under a triple net lease agreement, resulting in a total of approximately $69,000 annually.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $69,000
- Address: 808 Ponce De Leon Boulevard, Coral Gables
- Square Feet: 1,530
- Tenant's Representative: Michael Betancourt-Katz & Associates Real Estate Advisors
- Landlord: Unknown
- Lease Duration: 20 years (including extensions)
Michael Betancourt of Horizon Properties represented Caja Caliente, the tenant owned by Mika Leon, in this lease transaction. The restaurant is set to open its second location in Coral Gables in the fall.
Market 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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93