$1,150,000
$1,250,000
8.0%For more information regarding the value of a property, please contact us for a free consultation.
4,000 SqFt
SOLD DATE : 02/10/2025
Key Details
Sold Price $1,150,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $287
MLS Listing ID A11595231
Sold Date 02/10/25
HOA Y/N No
Year Built 1950
Annual Tax Amount $7,940
Contingent No Contingencies
Lot Size 7,877 Sqft
Property Sub-Type Retail
Property 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.
Location
State FL
County Miami-dade
Area 30
Exterior
Private Pool Yes
Others
Tax ID 05-30-24-001-0830
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Dwntwn Realty Advisors LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "