EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE RETAIL …...OFFERING SUMMARY YEAR 1 YEAR 2 Price...
Transcript of EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE RETAIL …...OFFERING SUMMARY YEAR 1 YEAR 2 Price...
EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE RETAIL OFFERING
DOLPHIN PLAZA - MIAMI, FL
OFFERING SUMMARY
YEAR 1 YEAR 2
Price $14,775,000
Down Payment All Cash
Gross Leasable Area 93,988
Price/SF $157.20
Occupancy 100.0%
Year Built 2015
Lot Size 10.19 acre(s)
CAP Rate 7.00% 7.05%
Net Operating Income $1,034,413 $1,042,079
Net Cash Flow After Debt Service $1,034,413 $1,042,079
Total Return 7.00% / $1,034,413 7.05% / $1,042,079
INVESTMENT HIGHLIGHTS
§ Tremendous Miami-Dade Location - Adjacent to the Palmetto Expressway/SR
-826
§ Excellent Co-Tenancy; Planet Fitness, Foot Locker, Rainbow, and Ashley
Stewart
§ 51,500 Annual Average Daily Traffic Count
§ Over 542,000 People in a Five Mile Radius
§ Under Two Miles to the Golden Glades Interchange (Confluence of Five Major
Roads)
§ Under Two Miles to Hard Rock Stadium, Home to Miami Dolphins and Miami
Hurricanes
EXCLUSIVELY LISTED BY:
Jason N. YukinsFirst Vice President InvestmentsDirector, National Retail GroupTel: (954) 245-3431License: FL SL [email protected]/JasonNYukins
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida, Inc. © 2018 Marcus & Millichap. All rights reserved. (Activity ID: Z0240047 Property ID: 645601)
EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE RETAIL OFFERING
101 West Elm Street, Suite 600, Conshocken, PA 19428 | Tel (215) 531-7000 Fax: (215) 531-7010
DOLPHIN PLAZA - MIAMI, FL
EXPENSES
CAM $129,539 $201,014
Insurance $82,201 $82,201
Real Estate Taxes $220,012 $220,012
Management Fee $46,000 $46,000
Miscellaneous Expenses
Total Expenses $477,752 $477,752
REVENUE
YEAR 1 YEAR 2
Base Rental Revenue $1,262,132 $1,269,994
Reimbursement Income $251,098 $251,098
Miscellaneous Income $11,500 $11,500
Potential Gross Revenue $1,524,730 $1,532,592
General Vacancy ($12,565) ($12,761)
Effective Gross Revenue $1,512,165 $1,519,831
MAJOR TENANTS
Planet Fitness Little Caesars Pizza
Foot Locker Optimal Health Medical Center
Rainbow Apparel Marathon Gas Station (Sunshine Gasoline)
Winn-Dixie
NET OPERATING INCOME
Net Operating Income $1,034,413 $1,042,079
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida, Inc. © 2018 Marcus & Millichap. All rights reserved. (Activity ID: Z0240047 Property ID: 645601)