Miami Gardens Plaza – Retail Shopping Center For Sale

$11,000,000.00
Call Now for more information:
1-561-299-0912

Description

Strip Mall For Sale – Miami Gardens Plaza

Retail Commercial Property For Sale

Price:
$11,000,000
Gross Leasable Area:
86,807 SF
Price per SF:
$126.72
Property Type:
Retail
Property Sub-type:
Strip Center
Property Use Type:
Investment
Cap Rate:
7.50%
Tenancy:
Multiple
Lot Size:
8.53 AC

Highlights of Strip Mall For Sale in Miami Gardens

  • Tropical Supermarket and Bare Foot Shoes are at below market rates.
  • Majority of local tenants are at rates considered below market for area.
  • Tremendous upside based on reasonable lease up of existing vacancy.
  • With property face-lift, rents can be increased significantly.
  • Next door to new City of Miami Gardens City Hall and Police Station employing +260 on a 24/7/365.
  • Less than 1 mile from Sun Life Stadium, home of the Miami Dolphins, many premier professional soccer matches & is about to undergo a $350M enhancement

Description of Florida Shopping Center For Sale

Miami Gardens Plaza is an existing 86,807 square foot, single story, strip shopping center (currently 80.6% leased), situated on approximately 8.53 acres. The property is zoned Planned Corridor Development (PDC) and Town Center Overlay (TCO), in the City of Miami Gardens.

The shopping center is anchored by Tropical Supermarket, H & R Block, Checkers Drive Thru restaurants and a host of long term, local credit tenants who have been in place for five years or more.

The immediate neighborhood is a combination of commercial and residential. The areas along N.W. 27th Avenue and portions of N.W. 183rd Street are developed commercially.

The shopping center is located on the northeast corner of N.W. 183rd Street and N.W. 27th Avenue in Miami Gardens. Each street is a major arterial road traversing Miami Gardens. The southwest corner of this intersection is slated as the location of a major redevelopment project transforming the 40 acres to a vibrant, new mixed use property. Immediately to the east, Cornerstone Group is building Pelican Cove, a 112 unit multi-family rental project.

Financial Summary of Commercial Real Estate Investment

 

  • $825,000

 

18335 – 18597 NW 27 Avenue, Miami Gardens, FL 33056 (Miami – Dade County)

Listing information courtesy of NAI Miami Commercial Real Estate Services, Worldwide. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.

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