Miami Springs Single-Tenant NNN Retail | 600 Payne Dr
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Miami Springs Single-Tenant NNN Retail 600 Payne Dr
7,877 SF Retail Building Miami Springs, FL 33166 $1,250,000 ($159/SF) 8.92% Cap Rate
Investment Highlights
- Recently Signed 10-year NNN Lease With (1) 5-year Option At 4% Annual Increases
- Tenanted By Woody’s Tavern Grill, A Well-regarded Establishment In Miami Springs
- Ample Parking Available On-site With 15 Parking Spaces
- Free Standing Retail building in a great pocket of Miami Springs
Executive Summary
DWNTWN Realty Advisors has been retained exclusively by ownership to arrange the sale of 600 Payne Drive in Miami Springs, FL. The
subject property includes three contiguous parcels totaling 7,877 SF and a 4,000 SF building, which encompasses outdoor dining. 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. This shift significantly reduces landlord responsibilities for operating expenses,
taxes, and insurance. Woody's Tavern Grill is a well-regarded establishment in Miami Springs, FL, known for its great food, drinks, live
music, and sports. With over 40 years of combined experience in the restaurant industry, the team behind Woody's is passionate
about delivering an exceptional dining experience. This property offers a robust investment opportunity with a strong tenant in place,
a renovated structure, and a prime location in Miami Springs.
subject property includes three contiguous parcels totaling 7,877 SF and a 4,000 SF building, which encompasses outdoor dining. 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. This shift significantly reduces landlord responsibilities for operating expenses,
taxes, and insurance. Woody's Tavern Grill is a well-regarded establishment in Miami Springs, FL, known for its great food, drinks, live
music, and sports. With over 40 years of combined experience in the restaurant industry, the team behind Woody's is passionate
about delivering an exceptional dining experience. This property offers a robust investment opportunity with a strong tenant in place,
a renovated structure, and a prime location in Miami Springs.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,877 SF
Building Class
B
Year Built/Renovated
1950/2014
Price
$1,250,000
Price Per SF
$159
Cap Rate
8.92%
NOI
$111,500
Tenancy
Single
Building Height
1 Story
Building FAR
1.00
Lot Size
0.18 AC
Zoning
NBD - Commercial
Parking
15 Spaces (1.9 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Corner Lot
- Restaurant
- Security System
- Signage
- Accent Lighting
- Roof Terrace
- Storage Space
- Air Conditioning
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Woodys Tavern and Grill
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Woodys Tavern and Grill | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $219,750 | |
| Land Assessment | $140,250 | Total Assessment | $566,261 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$140,250
Improvements Assessment
$219,750
Total Assessment
$566,261
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Miami Springs Single-Tenant NNN Retail | 600 Payne Dr
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