16685 NW 2nd Ave - Drug Store FOR SALE


Miami, FL 33169- Biscayne Gardens East
$3,800,000 USD
305-783-8890
16685 NW 2nd Ave, Miami, FL for Sale
$3,800,000 USD
Drug Store - FOR SALE
1/4
null | 6.21% Cap Rate

16685 NW 2nd Ave
Miami, FL 33169
Biscayne Gardens East


OVERVIEW

Current Real Estate Advisors is pleased to exclusively present the opportunity to acquire Curaleaf (the “Property”), the fee-simple interest in a ±2,200 SF freestanding single-tenant building located on a 12,557 SF (0.29 Acre) parcel in Miami, FL. The Property is leased to Curaleaf Holdings, Inc. – a leading vertically integrated multi-state cannabis operator – on a NN Lease with minimal landlord responsibilities. There are ±3 years remaining on the Lease, which calls for 3% annual increases as well as 1, 5-Year option period. The property went through extensive renovations in 2017 to serve the current tenant’s operations as they continue their expansion throughout Florida. Curaleaf recorded an annual revenue of $1B+ through 3Q2024, showing continued growth year-over-year and projections to exceed their 2023 revenue of $1.35 Billion. Located with direct frontage along NE 167th St (61,500+ VPD) and adjacent to the Goldens Glades Interchange, the congregation point for all of Miami-Dade’s major highways – I-95, Florida’s Turnpike (FL 836) & The Palmetto Expressway (FL 826), the Property presents enviable exposure and visibility. Curaleaf presents a rarely-offered opportunity for an investor looking for a steady, stable income stream with exceptional underlying real estate fundamentals, located at the gateway to North Miami Beach and the 167th Street Corridor.

FOR SALE DETAILS

PRICE

$3,800,000 USD

PRICE/SF

$1,680 USD /SF

CAP RATE

6.21%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Curaleaf - Miami, FL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

BU-2

APN/PARCEL ID

30-2113-007-2530

ASK ABOUT THIS PROPERTY

Alejandro SnyderCurrent Real Estate AdvisorsMore Info
305-783-8890

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Alejandro SnyderCurrent Real Estate AdvisorsMore Info
305-783-8890

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.