SW 75TH AVE OTTO OM 11.29 - LoopNet...SALE DATE: 9/29/2016 NOTES /DQG ZDV SXUFKDVHG LQ $ 6) VWRU\ RI...

$: SW 75TH AVE OTTO OM 11.29 - LoopNet...SALE DATE: 9/29/2016 NOTES /DQG ZDV SXUFKDVHG LQ $ 6) VWRU\ RI dFH EXLOGLQJ was developed at this site, a Davita Dialysis center, in 2 COMP 4$
EXCLUSIVELY LISTED BYReal Capital Partners | Real Estate ServicesOtto Travieso, CCIM

| 305.477.9748| 305.785.7325

This property comprises 61,490 SF of functional small bay industrial product PROPERTY HIGHLIGHTS

Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]

4475 & 4519 SW 75 AVEMIAMI, FL 33155

Available Space:61,490 SF

Property Features:Centrally located beside Palmetto

Zoning:IU-2

CAP Rate:

Lot Size:104,764 SF/2.4 AC

122,000 VPD

DEVELOPMENT OPPORTUNITY AVAILABLE FOR SALE

Pricing:$7,900,000

Average Rents:$8.85 SF

Highway SR 826- Palmetto Expressway 122,000 VPD

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


PROPERTY AERIALS

Highway SR 826- Palmetto Expressway 122,000 VPD

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


PROPERTY AERIALS

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


ZONING

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


AREA MAPTROPICAIRE SHOPPING

CENTER

Highw

ay SR 826- Palmetto Expressw

ay 122,000 VPD

SW 72N

D A

VE 12,700 V

PD

SW 87TH

AV

E

SW 56TH ST

SW 40TH ST 75,000 VPD SR 976

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


AREA DEMOGRAPHICS

CENTRALNear Major Attractions, Markets, Passenger And Cargo Hubs:

27,282Total Businesses

281,894Total Employees

BUSINESS

STATISTICS RADIUSKEY FACTS

$77,370Average Household

Income

AverageHousehold Size

472,648Population Median Age

PopulationHouseholdsFamilies

Median Household Income

PopulationHouseholdsFamilies

Median Household Income

1 Mile 25,6358,1556,5143.124,6723,48246.9$45,881$64m330 1 Mile 26,1468,2646,6083.144,8893,37548.5$53,695$75,534

3 Miles 213,80968,85253,2023.0538,72930,12343.7$48,566$65,982 3 Miles 220,58970,70354,6383.0740,91129,79344.5$55,227$77,420

5 Miles 460,594154,899115,2842.9387,35367,54642.6$53,530$77,370 5 Miles 478,684160,400119,2532.9492,49667,90543.2$61,026$90,353

1 MILE

3 MILES

5 MILES

AREA OVERVIEW

42.7 5 Miles

2.7

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


SALES COMPARABLES

4475 & 4519 SW 75th Ave 4519 SW 75th Ave | Miami , Fl 33155

SALE PRICE: $7,900,000TENANTS: 22PRICE/TENANT: $7,900,000PRICE/SF: $128.47CAP Rate: N/AYear Built: 1976

7389 SW 45th St | Miami, Fl 33155

SALE PRICE: $2,544,700TENANTS: 7PRICE/TENANT: $363,529PRICE/SF: $182.82CAP Rate: N/AYear Built: 1981Sale Date: 7/13/2018NOTE: Purchased in cash. Owner is going to invest more money

once converted he can charge $18/SF.

SUBJECT COMP 1

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


SALES COMPARABLES

7050 SW 44th St | Miami, FL 33155

SALE PRICE: $5,625,000TENANTS: 22PRICE/TENANT: $255,682PRICE/SF: $160.08CAP Rate: N/AYear Built: 1979Sale Date: 10/10/2017

4560 sw 71st Ave | Miami, Fl 33155

SALE PRICE: $1,750,000TENANTS: 8PRICE/TENANT: $218,750PRICE/SF: $150.75CAP Rate: N/AYear Built: 1977Sale Date: 9/29/2016

COMP 2 COMP 3

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


COMPARABLES MAP

S1 2

3

COMP 4

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


LAND COMPARABLES

LAND 4519 SW 75th Ave | Miami , Fl 33155

SALE PRICE: $7,900,000LOT SIZE: 104,764 rsfPRICE/RSF: $75.41

LAND4400 SW 75th Ave | Miami, FL 33133

SALE PRICE: $10,000,000LOT SIZE: 129,561 rsfPRICE/RSF: $77.18SALE DATE: 10/4/2016NOTE: Located across the street from the subject property.

SUBJECT COMP 1

COMP 4

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


LAND COMPARABLES

LAND 3635 NW 78th Ave | Miami , Fl 33162

SALE PRICE: $6,500,000LOT SIZE: 94,075 rsfPRICE/RSF: $69.09NOTE: Currently under contract, scheduled to close. The net buildable SF are 94,075. The gross SF after City of Doral Easements is 127,290. A 180,000 SF 240 bed medical nursing facility will be developed at this site. The property was built over

LAND9500 SW 77th Ave | Miami, FL 33156

SALE PRICE: $1,225,000LOT SIZE: 15,594 rsfPRICE/RSF: $78.56SALE DATE: 8/6/2015NOTES:This land was purchased in 2015. In 2017 a 12,192 SF, 2 story

COMP 2 COMP 3

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


LAND COMPARABLES AND MAP

S

2

1

3

LAND 1800 SW 8th St | Miami , Fl 33133

SALE PRICE: $2,050,000LOT SIZE: 18,597 rsfPRICE/RSF: $110.23SALE DATE: 9/29/2016

NOTES

was developed at this site, a Davita Dialysis center, in 2

COMP 4

4

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


Occupied SF 22,500 77.05% 23,150 77.17%

Leaseback 6,700 22.95% 6,850 22.83%

Total SF 29,200 30,000

Total % EGI $/SF Total % EGI $/SF

Rent

Occupied Space 210,600.00 $9.36 193,200.00 $8.35

Leaseback 62,712.00 $9.36 57,197.50 $8.35

Potential Gross Rent $273,312.00 $9.36 $250,397.50 $8.35

Expense Reimbursement $0.00 0.00% $0.00 $0.00 0.00% $0.00

Gross Potential Income $273,312.00 100.0% $9.36 $250,397.50 100.0% $8.35

Vacancy & Collections $0.00 0.00% $0.00 $0.00 0.00% $0.00

Effective Gross Income $273,312.00 100.0% $9.36 $250,397.50 100.0% $8.35

Expenses

Real Estate Taxes: 17,104.00 6.26% $0.59 17,579.00 7.02% $0.59

Insurance: Property, GL, Windstorm 7,300.00 2.67% $0.25 7,500.00 3.00% $0.25

Management 13,665.60 5.00% $0.47 12,519.88 5.00% $0.42

FPL 723.84 0.26% $0.02 979.80 0.39% $0.03

Water & Sewer 9,067.08 3.32% $0.31 - 0.00% $0.00

Waste Services 6,768.00 2.48% $0.23 6,768.00 2.70% $0.23

Total Operating Expenses 54,628.52$ 20.0% $1.87 45,346.68$ 18.11% $1.51

Net Operating Income 218,683.48$ 80.0% $7.49 205,050.83$ 81.9% $6.84

Price $3,896,501 $4,003,500

Price/SF RBA $133.44 $133.45

Cap Rate 5.61% 5.12%

Blended Price $7,900,001

Blended NOI $423,734

Blended Cap Rate 5.36%

OCCUPANCY 4475 SW 75th Ave 4519 SW 75th Ave

PROFIT AND LOSS

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


447744794481448344854487448944914493449544974499450145034505450745094511451345154517

$12,000.00$14,400.00$16,800.00$10,800.00

$9,600.00$9,600.00

$10,800.00$9,600.00

$12,000.00$10,800.00$12,000.00$14,400.00$12,000.00$12,000.00$10,800.00$10,800.00$12,000.00$10,200.00

$9.60$11.52$13.44

$8.64$7.68$7.68$8.64$7.68

$9.60$8.64$9.60

$11.52$9.60$9.60$8.64$8.64$9.60$8.16

$1,000.00$1,200.00$1,400.00

$900.00$800.00$800.00$900.00$800.00

$1,000.00$900.00

$1,000.00$1,200.00$1,000.00$1,000.00

$900.00$900.00

$1,000.00$850.00

$17,550.00

LeasebackLeaseback

Jorge GuerenRina ByerThird Door Art Space-Nadine Del ValleEuro Design Quality Finishes-Jamil DiazEuro Design Quality Finishes-Jamil DiazCentury PalnUng-Ali Diaz

LeasebackLeaseback

Alvaro Salazar

Franklin SaucedaErick Painting-Erick GuerraService Contractor EqulDment-Freddy ViscarraAmerican Cabinet Design-Jose DuarteNestOf Uptiolstery-l$88C SanchezSunshine Chem Orv Nestor Sanchez

SF 4475 SW 75TH AVE | MIAMI, FL 33155 Vacant SF Monthly Rent Yearly Rent $/ SF

4523452745314535453945434547455145554561456745714575457945834587459145954599

$1,000.00$900.00

$1,000.00$1,000.00

$900.00$900.00

$1,000.00$1,000.00

$900.00

2000900900900900

900

1000

Barbara TrujilloTerra Flowers-Haydee CaballeroTrujillo Landscaping-Barbaro TrujilloTrujillo Landscaping-Barbaro TrujilloVidal Garcia Furniture-Leidy CarralG.R. Carpentry-Jorge AlvarezBaldeon Upholstery-Rigoberto BaldeonLuis Borrego

LeasebackPeter Reina

Vidal Garcia Furniture-Leidy CarralClassic Furniture-Justo ChambillaYansi G. ChavezLeasebackAKO Plumbing-Alberto RomanLeasebackLeaseback

SF Vacant SF Monthly Rent Yearly Rent $/ SF 4519 SW 75TH AVE | MIAMI, FL 33155

RENT ROLL

4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


Comp No. Subject 1 2 3

Address4519 SW75th Ave

Miami, FL7389 SW 45th

St7050 SW 44th

St4560 SW 71st

Ave

City Miami Miami Miami Miami

Date of Sale --- 7/13/2018 10/10/2017 9/29/2016

Sale Price --- $2,544,700 $5,625,000 $1,750,000

Size GBA 61,491 13,919 35,138 11,609

Land Area (Acre) 2.41 0.60 1.94 0.52

Land to Bldg Ratio 1.70 1.87 2.40 1.93

$/SF Land 443.00 339.00 134.00

SP/SF (GBA) --- 77.18 69.09 78.56

Of ce Build-Out % 10.0% 10.0% 10.0% 10.0%

Days on Market 300 0 0

Financing --- 0% 54% 0%

Year Built 1976/1979 1981 1979 1986

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

Months Elapsed 2.33 11.53 24.07

Market Conditions/Time 0.00% 5.00% 10.00%

$182.82 $168.09 $165.82

-15.00% -5.00% -15.00%

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

Other 0.00% 0.00% 0.00%

($27.42) ($8.40) ($24.87)

-15.00% -5.00% -15.00%

$155.40 $159.68 $140.95

Sale No. PSF/GBA Net Adjustment Adj. PSF/GBA

Subject --- --- ---

Sale 1 $182.82 ($27.42) $155.40

Sale 2 $160.08 ($0.40) $159.68

Sale 3 $150.75 ($9.80) $140.95

Minimum Average Maximum

$140.95 $152.01 $159.68

Premise Estimated PSF/GBA Gross Bldg Area Value

As Is $152.00 $61,491.00 $9,350,000

STATISTICAL ANALYSIS

MARKET VALUE ESTIMATE

IMPROVED SALES ANALYSIS

ADJUSTED PRICE/GBA ANALYSIS

Size

Loading

Settling

Other

Other

Total Net Adjustments

Net Percent Adjustments

Total Adj. Price/GBA

SUMMARY OF IMPROVED SALES WITH ADJUSTMENTS

QUANTITATIVE ADJUSTMENTS

Property Rights

Financing Terms

Conditions of Sale

Adj. Price/GBA


4475 & 4519 SW 75TH AVE | MIAMI, FL 33155


Comp No. Subject 1 2 3 4

Property Name

Address4519 SW75th Ave

Miami, FL4400 SW 75th

Ave3635 NW 78th

Ave9500 SW 77th

Ave1800 SW 8th

St

City Miami Miami Miami Miami Miami

Date of Sale --- 10/4/2016 Pending 8/1/2014 9/29/2016

Sale Price --- $10,000,000 $6,500,000 $1,225,000 $2,050,000

Land Area (Acre) 2.405 2.974 2.16 0.358 0.427

Land Area (SF) 104,764 129,561 94,075 15,594 18,597

Front Freet 362 443 339 134 165

Price/Square Feet --- $77.18 $69.09 $78.56 $110.23

Property Rights --- Fee Simple Fee Simple Fee Simple Fee Simple

Financing --- 0 0 0 0

Conditions of Sale --- 0 0 0 0

Zoning Ind Ind Ind Of ce Of ce

0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00%

Months Elapsed 25.73 0.00 52.23 25.9

Market Conditions/Time 10.00% 0.00% 10.00% 10.00%

$84.90 $69.09 $86.41 $121.26

0.00% 0.00% 0.00% -20.00%

0.00% 0.00% -20.00% -20.00%

-10.00% 0.00% 15.00% 0.00%

Zoning 0.00% 0.00% 0.00% 0.00%

($8.49) $0.00 ($4.32) ($48.50)

-10.00% 0.00% -5.00% -40.00%

$76.41 $69.09 $82.09 $72.75

Sale No. Price/Square Feet

Subject ---

Sale 1 $77.18

Sale 2 $69.09

Sale 3 $78.56

Sale 4 $110.23

Minimum Average Maximum

$69.09 $75.09 $82.09

Square Feet

104,764

Less Adjustment:

Land Value As Is:

0

$7,870,000

$3.54 $82.09

Estimated Price/Square Feet

$75.09

Estimated Value

$7,870,000

STATISTICAL ANALYSIS

MARKET VALUE ESTIMATE

--- ---

$76.41($0.77)

$0.00

($37.48)

$69.09

$72.75

Location

LAND SALES ANALYSIS

ADJUSTED PRICE/GBA ANALYSIS

Adj. Price/Square FeetNet Adjustment

Total Adj. Price/Square Feet

Net Percent Adjustments

Total Net Adjustments

Frontage

Size

Property Rights

Financing Terms

Conditions of Sale

SUMMARY OF LAND SALES WITH ADJUSTMENTS

QUANTITATIVE ADJUSTMENTS

Adj. Price/Square Feet


SW 75TH AVE OTTO OM 11.29 - LoopNet...SALE DATE: 9/29/2016 NOTES /DQG ZDV SXUFKDVHG LQ $ 6) VWRU\ RI...

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Transcript of SW 75TH AVE OTTO OM 11.29 - LoopNet...SALE DATE: 9/29/2016 NOTES /DQG ZDV SXUFKDVHG LQ $ 6) VWRU\ RI...