EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE RETAIL OFFERING
2
EXCLUSIVE MULTIFAMILY OFFERING EXCLUSIVE RETAIL OFFERING PARAISO PLAZA II 3300 WEST 84TH STREET HIALEAH, FL 33018 OFFERING SUMMARY YEAR 1 Price $13,500,000 Down Payment All Cash Gross Leasable Area 34,013 Price/SF $396.91 Year Built 1998 Lot Size 0.78 acre(s) CAP Rate 6.01% Net Operating Income $811,294 Net Cash Flow After Debt Service $811,294 Total Return 6.01% / $811,294 INVESTMENT HIGHLIGHTS § Rare Hialeah Multi-Tenant Retail Center § NNN Leases with Annual Rental Escalations § New Roof in 2019 § 100% Occupied - 34% Occupied by Recession Resistant Medical Tenant § Stable Tenant Roster § Seven Tenants Have Been in Place for Over 10 Years EXCLUSIVELY LISTED BY: Scott C. Sandelin First Vice President Investments Senior Director, National Retail Group Tel: (786) 522-7009 License: FL SL636794 [email protected] Christopher Gonzalez-Jacobo Associate Tel: (786) 522-7125 License: FL SL3350090 [email protected] 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: ZAA0390272 Property ID: 1287037)
Transcript of EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE RETAIL OFFERING
EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE RETAIL OFFERING
PARAISO PLAZA II3300 WEST 84TH STREETHIALEAH, FL 33018
OFFERING SUMMARY
YEAR 1
Price $13,500,000
Down Payment All Cash
Gross Leasable Area 34,013
Price/SF $396.91
Year Built 1998
Lot Size 0.78 acre(s)
CAP Rate 6.01%
Net Operating Income $811,294
Net Cash Flow After Debt Service $811,294
Total Return 6.01% / $811,294
INVESTMENT HIGHLIGHTS
§ Rare Hialeah Multi-Tenant Retail Center
§ NNN Leases with Annual Rental Escalations
§ New Roof in 2019
§ 100% Occupied - 34% Occupied by Recession Resistant Medical Tenant
§ Stable Tenant Roster
§ Seven Tenants Have Been in Place for Over 10 Years
EXCLUSIVELY LISTED BY:
Scott C. SandelinFirst Vice President InvestmentsSenior Director, National Retail Group Tel: (786) 522-7009License: FL [email protected]
Christopher Gonzalez-Jacobo AssociateTel: (786) 522-7125License: FL SL3350090 [email protected]
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: ZAA0390272 Property ID: 1287037)
EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE RETAIL OFFERING
101 West Elm Street, Suite 600, Conshocken, PA 19428 | Tel (215) 531-7000 Fax: (215) 531-7010
PARAISO PLAZA II3300 WEST 84TH STREETHIALEAH, FL 33018
Marcus & Millichap is pleased to present Paraiso II
Shopping Center located at 3300 West 84 Street in
Hialeah, Florida. This presents the rare opportunity for
an investor to acquire a fully leased, well maintained
asset in the densely populated city of Hialeah. Hialeah
is known for its high level of consumer discretionary
income which contributes to the overall success of the
retail businesses throughout the city. Built in 1998, the
buildings are in excellent shape with new concrete
roofs. Some of the larger destination tenants in the
immediate vicinity include Publix Supermarket, Aldi,
Ross Dress for Less, Planet Fitness, Verizon, and
Chipotle.
Paraiso II Shopping Center is 100 percent occupied
with 18 tenants. The tenants are a mix of local and
regional businesses along with a corporate backed
Subway and Pasteur Medical who occupies 34 percent
of the leasable space. The stable tenant roster has
seven tenants that have been in place for over 10
years. All leases are triple net with each tenant being
responsible for its proportionate share of real estate
taxes, insurance, and common area maintenance. All
the leases call for annual rental increases.
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: ZAA0390272 Property ID: 1287037)
