Overview
- Updated On:
- September 6, 2024
Description
The subject property includes three contiguous parcels totaling 7,877 SF and a 4,000 SF building, which encompasses outdoor dining. There are 15 parking spaces available. The offering is a single-tenant NNN retail occupied by Woody’s Tavern Grill, which just signed a new 10-year NNN lease with (1) 5-Year Option with 4% annual increases. The first year of the lease operates under a gross rent model, transitioning to a NNN lease from Year 2 onwards, yielding an 8% cap rate. This shift significantly reduces landlord responsibilities for operating expenses, taxes, and insurance. This property offers a robust investment opportunity with a strong tenant in place, a renovated structure.
Address: 600 Payne Dr, Miami Springs FL 33166
City: Miami Springs
State/County: Miami-Dade County
Zip: 33166
Country: United States
Open In Google Maps
Property Id : 1821648
Price: $ 1.399.000
$ 7,172.95
per month- Principal and Interest
- Property Tax
- HOA fee
$ 5,424.20
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