IHOP 7450 NW 186th St Miami 7450 Northwest 186th Street, Miami Gardens, FL Cap Rate 5.01% Miami Gardens (Opa-locka, Florida, US ) Built

$2,500,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 4,524 sq. ft.
  • Development Level: Built
  • Lot Size: 0.35 acres
  • Year Built: 1998

Description

IHOP 7450 NW 186th St Miami 7450 Northwest 186th Street, Miami Gardens, FL Cap Rate 5.01%

Cap Rate: 5.01%
Building Size: 4,524 sqft
Lot Area: 0.35 sqft
Lease Type: Triple Net
Year Built: 1998
Tenancy: Single

Price: $2,500,000 USD

DESCRIPTION
Jones Lang LaSalle (“JLL”) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a single tenant IHOP (the “Property”) strategically located at 7450 NW 186th Street in the high density market of Miami Gardens, Florida, in north-central Miami-Dade County. The Property sits on a heavily trafficked thoroughfare with over 80,200 VPD, and connects to the I-75 interchange one and a half miles away. The North Pointe Community Center and the excellently maintained Country Club of Miami are located directly across the street from the Property, as it backs up to the Country Club Middle School, and surrounded by over 140,000
homes in a 5-mile radius. Some economic drivers for this asset include several nearby development projects underway, including construction on a world class indoor training facility for the NFL’s Miami Dolphins and their staff. The facility will feature an air-conditioned indoor practice field, two exterior practice fields, and a 125,000-sf support building. St. Thomas University is also expanding its campus to include the construction of a new 37,000 sf School of Business. The Property will also benefit from the imminent groundbreaking of several housing developments; Vista Lago
a mixed density residential development, Villages of Miami Gardens a 51 town home project, and Hiram Village a proposed multifamily townhome development. Other area retail developments in the works include, Pollo Tropical, Valvoline. 7-Eleven, self-storage, and an African culture museum. This trade area is constantly evolving and growing, which will continue to provide a consistently appreciation in value for the subject IHOP.

HIGHLIGHTS
• Long-term, triple net (NNN) lease with 3 years of term remaining
• IHOP has been operating at this location since 1998 and exercised their fourth option in 2018, showing a strong commitment to the site.
• This location benefits from Annual Rent based on six percent of the Gross Annual Sales.
• Historical sales at this location are $2,000,000 annually (+/-), making it a strong performing store.
• One, five-year renewal option remaining – providing landlord with future flexibility

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.