Basic Information
- MLS # A11595231
- Type Retail
- Status Closed
- Year Built 1950
- Total Sqft 7,877
- Date Listed 05/29/2024
- Days on Market 257
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.
Amenities
Exterior Features
- Waterfront No
- Parking Spaces 0
- Pool No
- Parking Description
- Style Retail
Interior Features
- Adjusted Sqft 7,877Sq.Ft
- Sqft 7,877 Sq.Ft
Property Features
- Address 600 Payne Dr
- Aprox. Lot Size 7,877
- Furnished Info no
- Listing Terms Cash, Conventional
- Subdivision Complex
- Subdivision Info
- Tax Amount $7,940
- Tax Legal desc FEC ADD TO HIA PB 20-14 BEG NE COR OF BLK 24 WLY50FT SLY 25.5FT ELY50FT NLY25.5FT TO POB LOT SIZE 25.500 X 50 OR 19151-0028 0500 2(2)
- Tax Year 0
- Terms Considered Cash, Conventional
- Type of Property Retail
600 Payne Dr
Miami Springs, FL 33166Similar Properties For Sale
-
$1,550,0004 Beds3 Baths9,826 Sq.Ft4010 NE 28th Ave, Fort Lauderdale, FL 33308 -
$1,550,0004 Beds3 Baths9,226 Sq.Ft919 Washington St, Hollywood, FL 33019 -
$1,545,4330 Beds0 Baths8,027 Sq.Ft1833 NW 35th St, Miami, FL 33142 -
$1,538,0000 Beds0 Baths9,765 Sq.Ft17175 NE 20th Ave, North Miami Beach, FL 33162 -
$1,525,0000 Beds0 Baths7,957 Sq.Ft280 NE 6th Ave, Delray Beach, FL 33483 -
$1,525,0000 Beds0 Baths7,958 Sq.Ft280 NE 6th Ave, Delray Beach, FL 33483 -
$1,500,0000 Beds0 Baths8,854 Sq.Ft5655-5659 Johnson St #1-9, Hollywood, FL 33021 -
$1,500,0000 Beds0 Baths8,850 Sq.Ft4019 NW 31st Ave, Lauderdale Lakes, FL 33309 -
$1,500,0000 Beds0 Baths8,792 Sq.Ft18635 SW 107th Ave, Cutler Bay, FL 33157 -
$1,500,0004 Beds3 Baths8,820 Sq.Ft708 Apple Tree Ln, Boca Raton, FL 33486
The multiple listing information is provided by the Miami Association of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2023-present Miami Association of Realtors®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: Dwntwn Realty Advisors LLC. tel: 305-909-7343
Real Estate IDX Powered by: TREMGROUP
