Miami Springs Single-Tenant NNN Retail 600 Payne Dr

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. Thesubject property includes three contiguous parcels totaling 7,877 SF and a 4,000 SF building, which encompasses outdoor dining. Thereare 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. 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, livemusic, and sports. With over 40 years of combined experience in the restaurant industry, the team behind Woody's is passionateabout 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.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Freestanding Restaurant
• Building Size    7,877
• Building Class    B
• Year Built/Renovated    1950/2014
• Price    1,550,000
• Price Per SF    197
• Cap Rate    8.05
• NOI    124,775
• Tenancy    Single
• Building Height    1 Story
• Building FAR    1.00
• Land Acres    0.18 AC

• 24 Hour Access
• Corner Lot
• Restaurant
• Security System
• Signage
• Accent Lighting
• Roof Terrace
• Storage Space
• Air Conditioning