8868 SW 40th St - Freestanding FOR SALE
Miami, FL 33165 |
$4,335,664 USD
305-905-3215
8868 SW 40th St
Miami, FL 33165
HIGHLIGHTS
- TROPHY ASSET – Strategically located in the heart of Miami, fronting Bird Road (76,000 vehicles per day), this premier destination is ideal
- LONG-TERM LEASE – New 10-year lease in place, with the tenant beginning operations in October 2024
- ABSOLUTE NNN LEASE – There are zero landlord responsibilities, making it a great investment opportunity for a passive investor
- RECENT RENOVATION – Prior to opening for business on October 23, 2024, the Tenant invested approximately $2 million into the property
- ATTRACTIVE RENTAL INCREASES – Property includes a 10% rent increase in June 2027 and in all extension options
- STICKY TENANT – Cannabis dispensary tenants are less likely to relocate due to restrictive zoning regulations that limit where they can operate
FOR SALE DETAILS
PRICE
$4,335,664 USD
PRICE/SF
$999 USD /SF
CAP RATE
7.15%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1958
SPRINKLERS
-
PARKING SPACES
25
LAND DETAILS
LAND ACRES
0.43 AC
LAND SF
18,731 SF
ZONING
BU-3
APN/PARCEL ID
30-4021-000-0171
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305-905-3215
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305-905-3215
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