Price Reduced 19.35%
Price History
$1,550,000
5/28/2024
$1,399,000
9/6/2024
$1,250,000
10/29/2024
600 Payne Dr, Miami Springs, FL, 33166
1950
The subject property includes three contiguous parcels totaling 7,877 SF and a 4,000 SF building, which encompasses outdoor dining. There are 15 parking spaces available. The offering is a single-tenant NNN retail occupied by Woody’s Tavern Grill, which just signed a new 10-year NNN lease with (1) 5-Year Option with 4% annual increases. The first year of the lease operates under a gross rent model, transitioning to a NNN lease from Year 2 onwards, yielding an 8% cap rate. This shift significantly reduces landlord responsibilities for operating expenses, taxes, and insurance. This property offers a robust investment opportunity with a strong tenant in place, a renovated structure.
Status:
Active
Type:
Commercial
Zoning:
6300
Est. Taxes:
$7,940
Days on Market:
154
MLS #:
A11595231
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School Info
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Listing courtesy of Dwntwn Realty Advisors LLC Phone: 305-909-7343