NNN Office Depot/Wells Fargo GL
Miami, FL
Contact: Derrick Schroeder 954-296-6955
Dschroe@gmail.com
 

 
Primary Type:
Retail
Price:
$5,845,000
NOI:
$467,620
Cap Rate:
8.00%
Building Size: 19,000 ± SF
Occupancy: 100%
Year Built:
2008
Net Lease Investment:
Yes
Date Last Verified:
11/14/2008
If you are interested in this property, feel free to contact the Solid Investments Team!
Via E-Mail
Derrick Schroeder


Property:
 NNN Office Depot/Wells Fargo
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Via Phone:
Derrick Schroeder

Solid Investments
954-492-9431



Property Description:
Strategically positioned at the intersection of two 6 lane arteries in Northwest Miami-Dade County, Florida that consists almost exclusively of national credit tenants in a value oriented retail market place. Brand New Construction! A++ Location! Wells Fargo is on a brand New 20 year Absolute NNN Ground Lease with 10% bumps every 5 years. Office Depot has a new 15 year Net Lease with 10% bumps every 5 years. Just Reduced to an 8% CAP Rate! Corporate Guaranteed Leases! Over 75,000 vehicles per day! The average household income within a two mile radius exceeds $49,000 with a median age of 30 indicating a family oriented trade area with a good amount of disposable income.

Office Depot - 20,800 ± SF
Office Depot has leased 15 year NNN lease with 10% Rent Bumps every 5 years!. A local tenant occupies an adjoining small bay. The Office Depot building is leased on a NN basis with the landlord responsible only for roof and structure and the tenants reimburse all operating expenses.

Wells Fargo Ground Lease - 5,400 ± SF
A pad leased to Wachovia Bank for 20 years on an absolute NNN basis. Wells Fargo is schedule to close on the acquisition of Wachovia Bank at year end.

Location:
Strategically positioned at the intersection of two 6 lane arteries in Northwest Miami-Dade County, Florida that consists almost exclusively of national credit tenants in a value oriented retail market place. It has impressive physical features and excellent curb appeal. 75,000 ± vehicles per day going by the center and benefits of additional traffic generated by an adjoining Wal-Mart SuperCenter.
Financial Summary

Actual
NOI $467,620
 
  • Just Reduced to 8% CAP Rate!
  • Fantastic Location
  • Long Term Corporate Guaranteed NNN Leases!
  • NNN Leases with Bumps!
  • 75,000 ± AADT
  • Excellent Demograpchics
 
   
   
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 Loan to Value Ratio (%)
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 Annual Rent ($) $467,620.00
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  $467,620.00
   
  
 		  
   
  Ask the Expert
Please call:
Bradley D. Zinn:
954-522-0275 
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Realty Associates Florida Properties
3087 E. Commercial Blvd. Ft. Lauderdale, FL 33308