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29403054
29403055

14995 SW 88th St, Miami, FL 33193

CP
NY 10401300636, NJ 1861396
Marcus & Millichap - Manhattan
MC
NY 10401311477
Marcus & Millichap - Manhattan
EO
NY 10401392892
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan
$6,509,803
128 days on market
Updated 128 days ago

TD Bank - Target Outparcel - Strong Deposits

Details
Property Type Retail
Sub Type Bank
Square Footage 4,632
Cap Rate 5.11%
NOI $332,750
Occupancy 100%
Tenancy Single
Brand/Tenant TD Bank
Lease Type Absolute NNN
Lease Term 25.1
Lease Expiration 03/30/2038
Remaining Term 11.8
Rent Bumps Yes
Lease Options 4, 5-Year
Price per SqFt $1,405
Class A
Year Built 2013
Acreage 1.000
Investment Type Net Lease
Lease Commencement 03/03/2013
Occupancy Date 03/03/2013
Ownership Fee Simple

10% Rent Increase in 2028 - 50,000 VPD

Investment highlights

  • Prime Location NNN Ground Leased TD Bank w/ No Maintenance: Absolute NNN TD Bank Located at the Highly Trafficked Signalized Intersection of Hammocks Boulevard and SW 88th Street with Over 50,000 Vehicles Passing Daily in Miami, Miami-Dade County, FL

  • Outparcel to Top Performing Florida Target Store: Outparcel to Target Ranking in the Top Five Percent of all Targets Throughout the State of Florida with TD Bank Foot Traffic Also Ranking in the Top 28 Percent of All TD Banks in FL (Placer.ai)

  • Proven Location with Strong Reported Deposits: Per the Federal Deposit Insurance Corporation, Bank Deposits Currently Stand in Excess of $102 Million Representing Material Growth of Five Percent Over 2023 and Ten Percent Over 2024

  • Elite Retail Synergies Adding Long Term Security: Surrounded by a Host of the Nation’s Most Successful Retailers Including Walmart, Home Depot, Ross Dress for Less, McDonald’s, Wendy’s, Lowe’s, Longhorn, and CVS/pharmacy, Among Many Others

  • Rent Increase in 2028 Provides Immediate Rent Upside: Rent Will Increase by Ten Percent in 2028 Providing Investors with Enhanced Return on Investment in Just Two Short Years Elevating the Asset’s Cap Rate Closer to Six Percent

  • Highly Secure Lease Guaranteed by TD Bank: One of the Most Secure Leases in the NNN Market Guaranteed by TD Bank, with Over 1,100 Bank Branches Nationwide and an S&P Credit Rating of AA-

Listing Contacts

CP
NY 10401300636, NJ 1861396
Marcus & Millichap - Manhattan
MC
NY 10401311477
Marcus & Millichap - Manhattan
EO
NY 10401392892
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$332,750.00
$27,729.17/mo

Valuation Metrics

0
DSCR
5.11%
Cap Rate
5.11%
ROI

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Additional Information

Name
Ryan Nee
License
FL 3154667
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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