North Miami Beach Retail Property For Sale – TD Bank

$7,554,217.00
Call Now for More Information:
1-352-237-2222

Description

 

TD Bank Ground Lease | Prime South FL | 20+ Yrs

Price $7,554,217 Occupancy 100%
Building Size 2,997 SF No. Stories 1
Price/SF $2,520.59 Tenancy Single
Property Type Retail Property on Ground Lease? Yes
Property Sub-type
Free Standing Building
Year Built 2012
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 41,220 SF
Cap Rate 4.15% APN / Parcel ID 07-2217-029-0010

Miami Commercial Property Description

This is a terrific offer for sale with the opportunity to acquire the 100% fee simple interest in the ground leased commercial property located at 1190 NE 163rd Street in North Miami Beach, Florida (the Property ). The Property consists of a 2,997 SF building situated on a 0.95-acre parcel of land. The Property is leased to TD Bank, who is operating under an Absolute NNN Ground Lease with over twenty (20) years of base term remaining and features ten (10) percent rental escalations every five (5) years. This offering represents a rare opportunity to acquire a long term Absolute NNN Ground Lease in the Miami MSA, the 8th largest MSA in the United States.

The Property is located in Miami-Dade County, approximately 14.5 miles north of Miami. North Miami Beach is truly at the Crossroads of South Florida between Miami and Ft. Lauderdale. Its central location and easy access make the city one of South Florida’ s most well-known regional shopping areas and one of its most popular sites for office users. The Property boasts strong demographics with a population of 466,989 and an average household income of $64,060 within a five (5) mile radius. Strategically positioned on the signalized, hard corner of NE 163rd Street and NE 12th Avenue, the Property sees over 56,000 vehicles per day (VPD) and is amongst national retailers such as The Home Depot, Marshalls, Ross, and Walmart Supercenter. Additionally, the Property is centrally located between I-95 (227,173 VPD) and Hwy 1 – Biscayne Blvd. (52,061 VPD), two of South Florida’ s main north – south thoroughfares.

Investment Property Highlights

  • Multi-Generational Miami MSA Acquisition Opportunity
  • Large Financial Institution with Investment Grade Credit
  • 20+ Year Absolute NNN Ground Lease with Rental Increases
  • Prestigious, North Miami Beach Location with Excellent Demographics
  • Heavily Trafficked Retail Trade Area with Outstanding Visibility & Ease of Access

 

Contact us for Commercial Properties For Sale in Florida.

O’Reilly Commercial Realty LLC
Patrick O’Reilly
Phone: (352) 237-2222
Email: OreillyCommercialRE@gmail.com

1190 NE 163rd St, Miami, FL 33162 (Miami-Dade County)

Listing information courtesy of Stan Johnson Company. 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.

Property ID 377947

Area of Florida

Location

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