South Beach NNN Leaseback Investment Hospitality
TRIPLE NNN | LEASE BACK ZERO LANDLORD RESPONSABILITY
Marketing description
Unique asset in South Beach, on Meridian and 5th Ave. Triple-Net (NNN) leaseback to CVC. CVC Corp is one of the largest travel groups in Latin America, with brands that operate in Brazil, Argentina and the United States, in the segments of vacation and leisure, corporate/business, education (cultural exchange abroad), management and rental of residences. 538 Meridian Ave offers a prime investment opportunity with 12 units featuring 2 bedrooms, 16 bathrooms, and a total of 24 beds. Spanning 18,301 square feet, the property is centrally located in the heart of South Beach, ½ a mile from the ocean.
Investment highlights
Price/Precio:US $12,500,000
CAP/Retorno:5.15%
Building Area/Área de Construcción:Approx.18,301Sq. ft =1,700m²
Lot/Terreno:7,000 Sq.FtSq. ft =650m²
Year Built|Año de Construcción:2019
NOI/Ingreso Neto:US $644.613
Annual Expenses/Gastos Anuales:NNN Tenant is responsible for all expenses including property tax,insurance, and maintenance.|El inquilino es responsable por todos los gastos incluyendo impuesto predial y seguro.
Contract Terms/Términos del Contrato de Renta: 5 years contract remaining.| 5 años de contrato restantes.
Increases/Incrementos de Renta:3.5%anual.|3.5%deincrementoanual.
Extensions/Extensiones:N/A
Guarantor/Garantizado por:CVC Corp,oneof the largest travel groups in Latin America, with brands thatoperate in Brazil,Argentina,and the United States, in the segments of vacation and leisure,corporate/business, education (cultural exchange abroad), management and rental of residences.|CVCCorp es uno de los grupos de viajes más grandes de América Latina, con marcas que operan en Brasil,Argentina y Estados Unidos, en los segmentos de vacaciones, corporativo/negocios, educación(intercambio cultural en el exterior), gestión y alquiler deresidencias
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