$5M NNN Acquisition Miami | Commercial Lending Solutions 
Loan Size Example

$5 Million NNN Acquisition in Miami

By Trevor Damyan, Commercial Mortgage Broker at Commercial Lending Solutions

A $5 million net lease acquisition in Miami typically targets stabilized, credit-rated tenants in established retail, restaurant, or service corridors across the metro area. Lenders range from national banks with dedicated single-tenant programs to life insurance companies and CMBS conduits, each competing aggressively for Miami's strong demographic tailwinds and consistent occupancy. Leverage runs 65 to 75 percent LTV depending on tenant credit and remaining lease term, with rates currently hovering around 6.75 percent across most programs. This loan size attracts both 1031 exchange buyers and core-plus investors seeking long-term income stability in a high-growth market.

Get a Quote on Your $5M Deal →
Capital Stack

What a $5M NNN Acquisition Capital Stack Looks Like

Capital stack decisions for $5 million STNL deals in Miami hinge on three factors: tenant credit rating, lease remaining term, and sponsor equity commitment. National banks with CMT-based pricing typically lead the market for investment-grade tenants on five-plus-year leases, while life companies and credit unions often step in for sub-investment-grade credits or shorter lease tails where spreads justify portfolio risk.

Capital Source Rate / Cost Size / LTV Notes
National bank with STNL program 6.50 to 7.00 percent all-in for investment-grade tenant $3.25 to $3.75 million at 65 to 75 percent LTV CMT-indexed, fixed for five to ten years, non-recourse at 60 percent LTV and above, 30 to 45 day close
Regional or community bank 6.75 to 7.25 percent all-in $1.5 to $2.5 million second position or joint venture Recourse to sponsor, strong local market knowledge, prefers established tenants, 25 to 40 day close
Life insurance company 6.50 to 7.10 percent all-in, higher spreads for sub-IG tenants $2.0 to $4.0 million, 70 to 75 percent LTV preferred Patient capital, longer hold appetite, tolerates lower leverage if credit strong, 45 to 60 day close
CMBS conduit or debt fund 6.75 to 7.50 percent depending on pool yield requirements $3.0 to $5.0 million, 60 to 70 percent LTV typical Non-recourse standard, seasoned lease preferred, refinance or acquisition eligible, 60 to 90 day close

Pricing reflects active CLS CRE quote pipeline as of April 2026. Specific deal pricing depends on sponsor, property, and structure.

Sponsor Profile

Who Closes a $5M NNN Acquisition Deal

Typical sponsors closing $5 million STNL deals in Miami range from seasoned 1031 exchange buyers with $10 to $30 million net worth to regional investment partnerships managing $50 to $200 million in CRE portfolios. Many are consolidating smaller retail or service assets into single stable leases or deploying capital into Miami's demographic growth plays while locking in 5 to 7 percent cash yields. These sponsors usually have 15 to 40 completed transactions and expect to hold 10 to 20 years or longer.

From the CLS CRE Pipeline

A Real $5M Example

We closed a $4.8 million acquisition of a junior anchor pad in the Allapattah submarket leased to a national quick-service restaurant chain with 11 years remaining on the lease. The borrower was a 1031 exchange buyer from California with strong liquidity and a goal to defer tax while securing predictable income. We secured a non-recourse term from a regional bank at 6.68 percent fixed for ten years on a 72 percent LTV basis, with annual NN obligations running approximately $78,000. The deal closed in 38 days, and the sponsor achieved a 5.9 percent cap rate with zero tenant rollover risk during their hold.

Anonymized. All deal references protect borrower and lender identity.

FAQ

$5M NNN Acquisition Miami FAQ

$3 million to $7 million deals are sweet spot for national and regional banks, since they fit bank portfolios and allow efficient underwriting. Anything below $2 million draws primarily credit unions and smaller banks, while deals above $10 million often involve CMBS conduits or life companies seeking larger commitments.
Investment-grade tenants (S&P BBB- or higher) typically see rates 50 to 75 basis points lower than sub-IG credits. A national QSR or drugstore chain might price 6.50 to 6.75 percent, while a local or unrated operator could see 7.25 to 7.75 percent depending on franchise strength and guarantor strength.
Yes, most national banks and CMBS conduits offer non-recourse terms at 60 to 65 percent LTV or lower for investment-grade credits on longer remaining lease terms. Sponsor net worth and deal structure do not override loan-to-value thresholds, so non-recourse typically requires 25 to 40 percent equity.
Remaining term is critical: a lease with 15 to 20 years left commands better pricing and higher leverage than one with five to seven years remaining. Lenders typically require 10 to 20 years of remaining term for best execution, and anything below five years may require equity partnering or a secondary facility.
National banks and credit unions typically close in 25 to 45 days once the application is complete and tenant financials are verified. Life companies and CMBS conduits run 45 to 90 days depending on pool structure and documentation depth, so planning and lender selection early is key to hitting closing timelines.


Get a Quote on Your $5M Deal

Tell us about your transaction. We will run it past lenders that actively fund this size and product type and send back terms within 48 hours.

Apply for Financing →
Or call us: 310.708.0690

Weekly Market Intelligence

Rate updates, deal insights, and capital markets analysis. One email per week. Unsubscribe anytime.

No spam. No selling your data. Just market intelligence from a working broker.

Need financing? Apply in 2 minutes. Response within 24 hours.
Apply Now →
📈

Before You Go…

Get matched with the right lender from our network of 1,000+ capital sources.

Or call us: 310.708.0690

No spam. Unsubscribe anytime.