23201 SW 112th Ave - Drug Store FOR SALE


Homestead, FL 33032
$8,096,000 USD
480-221-4221
23201 SW 112th Ave, Homestead, FL for Sale
$8,096,000 USD
Drug Store - FOR SALE
1/9
null | 5% Cap Rate

23201 SW 112th Ave
Homestead, FL 33032


HIGHLIGHTS

  • 14+ Years Remaining | Corporate Signed | Scheduled Rental Increases
  • Absolute NNN | Fee Simple Interest Ownership | Zero Landlord Responsibilities | No State Income Tax
  • Dense Retail Corridor | Strong National/Credit Tenant Presence
  • Near Signalized, Hard Corner Intersection | Florida Turnpike |Excellent Visibility & Access
  • Strong Demographics in 5-mile Trade Area | Six-Figure Incomes

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee-simple interest (land & building ownership) in an absolute NNN leased, Walgreens investment property located in Homestead, Florida (Miami MSA). The tenant, Walgreens, currently has over 14 years remaining on their first lease term with 12 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Walgreens is one of America’s largest and most recognized pharmacy and retail chains, serving millions of customers across the country each month. There are approximately 8,700 Walgreens stores in the United States as of December 2024.

FOR SALE DETAILS

PRICE

$8,096,000 USD

PRICE/SF

$443 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Storefront, Light Distribution

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

68

LAND DETAILS

LAND ACRES

1.41 AC

LAND SF

61,386 SF

ZONING

BU-1A

APN/PARCEL ID

30-6019-020-0010

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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