Lease Information
A transferable lease in Brickell with years of runway and two renewal options.
Key terms
- Address
- 70 SE 5th Street, Suite 107, Miami, Florida 33131
- Monthly cost (all-inclusive)
- $10,995.52
- Current term
- Through May 2029
- Renewals
- Two 5-year extension options after the current term
- Landlord consent
- Lease transfer is subject to the landlord's written approval, typically granted when a solid business plan and the new operator's background are presented.
Term timeline
Today
Current term ends · May 2029
Renewal option 1 · +5 years
Renewal option 2 · +5 years
Renewal options run after the current term. Exact dates and conditions are set out in the lease.
Remaining term at a glance
The current term ends in May 2029. After that, up to two 5-year renewals follow — a potential runway to May 2039 with one renewal and to May 2044 if both are exercised, subject to the lease terms.
What the monthly cost covers
The $10,995.52 monthly figure is quoted as all-inclusive. The itemized breakdown is part of the lease documentation shared after signing the NDA.
How the lease transfer works
- 1
Sign the NDA
- 2
Review the lease documentation
- 3
Submit business plan and operator background to the landlord
- 4
Landlord's written approval and handover
Landlord approval is typically granted when a solid business plan and the new operator's background are presented — a standard process in Miami.
Prepare for landlord approval
Prepare these materials for your review and presentation to the landlord.
- A business plan for your concept
- Your operator background and restaurant experience
- Proof of working capital — the new operator provides their own working capital
What to verify in due diligence
After signing the NDA, review the documentation and confirm:
- The full lease and assignment terms
- The all-in cost breakdown
- Renewal option conditions and notice periods
- Any use or concept restrictions in the lease
Questions to put to the landlord and seller
- What the all-inclusive figure covers (CAM, taxes, insurance, utilities)
- Annual escalations
- Security deposit and any personal guarantee
- Assignment or transfer fees
- Renewal rent (fixed vs. market) and notice deadlines
- Use clause and any concept or alcohol restrictions
- Landlord and tenant maintenance responsibilities
- Any landlord lien or default history
Location
70 SE 5th Street, Suite 107, Miami, FL 33131
Brickell
Request the lease documentation
The lease documentation is shared after signing the NDA, a mutual-protection document that can be signed digitally in under 24 hours.
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