Miami, FL – Family Dollar Anchored Center
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a Family Dollar anchored, 100% occupied, multi-tenant investment property located in Miami, Florida.
The retail property is fully occupied by Family Dollar (S&P: BBB-), Elegant Beauty Supplies and Midway Supermarket.
Elegant Beauty Supplies and Midway Supermarket will execute brand new 10-year leases with 2 (5-year) options, demonstrating their commitment to the site.
Both leases will feature 10% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation.
Additionally, all the tenants are on NNN leases, limiting expense leakage for a new investor.
The subject property is strategically located along N.W. 17th Avenue, a primary commuter thoroughfare averaging 18,400 vehicles passing by daily.
The asset benefits from excellent visibility via significant street frontage and two large pylon signs along N.W. 17th Avenue.
The site profits from nearby on/off ramp access to Interstate 95 (229,000 VPD), a heavily traveled cross-county highway serving the greater Miami metropolitan area.
Moreover, the immediate trade area is home to a variety of national/credit tenants including Walmart Supercenter, Ross Dress for Less, dd’s Discounts, Walgreens, Winn Dixie, and more.
Strong tenant synergy significantly increases consumer draw to the trade area and promotes crossover retail exposure for the site.
Additionally, the site is surrounded by nearby residential neighborhoods and is poised to take advantage of the large potential consumer base.
In particular, the asset is surrounded by several apartment complexes including Liberty Square (753 units), Liberty Square Rising (204 units), and Lincoln Fields Apartments (214 units).
The 5-mile trade area is supported by a dense population of more than 592,900 residents and 258,100 daytime employees with an average household income of over $56,100.
More Retails? Click here
- Country: United States
- Province / State: Florida
- City / Town: Miami
- Property ID 2807
- Price $3,950,000
- Property Type Retail
- Property status For sale
- Year Built 1947
- Size 15,129 SqFt
- Cap Rate 6.48%
- Occupancy 100%
- NOI $256,025