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23196561
23196562

605 W 29th St, Hialeah, FL 33012

AO
FL SL3143588
Marcus & Millichap - Fort Lauderdale
JT
FL SL3174354
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale
$1,196,000
434 days on market
Updated 69 days ago

Hialeah Farm Store - 6% CAP

Details
APN 04-3012-003-0610
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 760
Cap Rate 6.00%
NOI $71,760
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 10
Lease Expiration 01/01/2036
Rent Bumps Yes
Broker Co-Op Yes
Year Built 1964
Buildings 1
Stories 1
Zoning C-2
Investment Type Net Lease
Lease Commencement 02/01/2026
Ownership Fee Simple

Hialeah Farm Store | 6.00% CAP

Marketing description

This offering features a brand-new 10-year NNN lease with zero landlord responsibilities, corporately guaranteed by Farm Stores. The lease includes 3% annual rent increases during the base term and in each of the three five-year renewal options. Farm Stores, founded in 1935, pioneered the drive-thru convenience store concept and continues to thrive as part of a growing $700-billion industry. Their uniquely designed locations serve bedroom communities and neighborhoods by delivering fresh products quickly and efficiently. As a recession-resistant, internet-proof, and pandemic-proof tenant, Farm Stores offers long-term stability and reliability for investors.

This Farm Store is ideally positioned along W 29th Street, benefiting from excellent visibility with approximately 15,400 vehicles passing daily. It is located in a growing suburb of Hialeah, where the average household income within a five-mile radius is approximately $75,328, according to Experian. The property is surrounded by an extremely dense trade area, with over 202,376 residents and 207,020 employees within just three miles. Additionally, Hialeah is recognized as a high barrier-to-entry market, further enhancing the long-term value and stability of this location.

Listing Contacts

AO
FL SL3143588
Marcus & Millichap - Fort Lauderdale
JT
FL SL3174354
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$71,760.00
$5,980.00/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

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