TD Bank Ground Lease | Prime South FL | 20+ Yrs
|Building Size||2,997 SF||No. Stories||1|
|Property Type||Retail||Property on Ground Lease?||Yes|
Free Standing Building
|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. This is a great area with easy Highway access and also close to the beautiful beaches.
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
Phone: (352) 237-2222
Miami, FL 33162 (Miami-Dade County)
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Property ID 377947