Listed by Castillo & Associates Real Estate Inc
$6,950,000
Clearview Shops
Details
Property Type Mixed Use, Office
Sub Type Traditional Office, Storefront
Square Footage 24,964
Net Rentable (SqFt) 17,580
Units 22
Cap Rate 7.03%
NOI $488,469
Occupancy 100%
Tenancy Multi
Lease Type NNN
Broker Co-Op Yes
Class B
Year Built 1989
Year Renovated 2010
Buildings 1
Stories 2
Lot Size (SqFt) 39,204
Mixed Use | 7.03% CAP | 24,964 SqFt
Marketing description
INVESTMENT HIGHLIGHTS: All triple net leases, Cap rate 7.03%, 100 Occupied. Building Size 24,964 sq ft, Lot Size 39,204 sq ft, Year Built 1989, First Time On Market in Over 20 Years, Recently Re-Roofed, New LED lighting, New surveillance cameras throughout the property, New, LED monument sign, 85 parking spaces, 1 elevator, 2 staircases. Strong and stable cash flow for potential investors. Upside potential by leasing the remaining unit plus adjusting rents through multiple short-term leases. Triple net leases. annual escalations providing strong rent growth for a potential buyer. The investment presents a unique opportunity to own a mixed-use building with small spaces that can easily be rented out to in a rapidly growing neighborhood.
Investment highlights
•The property is located on an excellent location near the Miami Dade and Broward County line
•Located on 27th Avenue corridor 1.6 miles to Hard Rock Stadium; a world class hub for major sporting and entertainment events, including Miami Dolphins games, Miami Hurricane football, major concerts, Formula 1 racing and the Miami Open Tennis tournament.
•Less than a mile north of the Palmetto Expressway (SR 826) and about 2 miles south of the Florida Turnpike.
•43,500 vehicles per day on 27th Avenue
•Dense population, in excess of 655,000 within 5-mile radius
Listing Contacts
Listed by Castillo & Associates Real Estate Inc
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$488,469.00
$40,705.75/mo
Valuation Metrics
0
DSCR
7.03%
Cap Rate
7.03%
ROI
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