The Alpha Commercial is proud to present a freestanding micro-retail building at Little River’s ultra high-traffic Biscayne Boulevard & NE 79th Street hard-corner intersection.
With nearly 70,000 average daily vehicles, this property has proven national-tenant appeal, offering maximum visibility for any business looking to establish a permanent presence in one of Miami’s hottest growth areas before the pipeline of new projects floods the market.
Historically and currently occupied by national tenant Metro by T-Mobile, the tenancy is at a flex-point, presenting a unique opportunity for an end-user to occupy the space or an investor to re-tenant the building with a fresh NNN lease at market rents.
**Seller is prepared to deliver property vacant at buyer’s request.
The highest-best buyer for this property is likely an end-user for whom this location surrounded by national tenants at a busy intersection is invaluable. Any kind of dry retail would thrive here, and the property used to be a restaurant so there is existing infrastructure for a grease-trap (most likely would need to be brought up to code).
Another option would be to re-tenant the property at market rents, which we estimate to be around $55/SF NNN on pro-forma (possibly slightly higher due to the micro nature of the space). At the asking price, that puts you just under a 5% CAP on pro-forma, and remember the future development potential weights into future value here as well.