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Expenses
Abs NNN
1972 Construction
9,800 SF | 1.66 Acres
Lease Base Term
10 Years
Strong Medical Tenant
Corporate Guarantee
Strong Demographics
416k+ (5 miles)
Outstanding Location
51,021 VPD
INVESTMENT HIGHLIGHTS
CORPORATE GUARANTEE FROM STRONG MEDICAL TENANT Guaranteed by Clinical Care Medical Center, a value-based, multispecialty provider which operates 25 medical centers across Florida, 13 of which are in Miami-Dade County.
ABSOLUTE NNN LEASE STRUCTURE True Absolute NNN with zero landlord responsibilities. The base term was extended by 10 years with recent lease amendment.
SCHEDULED ANNUAL INCREASES Annual increases of 2.0% every year through the base term were also established with the recent term extension.
DENSE POPULATION IN IMMEDIATE AREA 416k+ population within 5 miles earning average household income of $86,205.
OUTSTANDING LOCATION WITHIN MIAMI MSA Highly visible and easily accessible from Biscayne Blvd with 51,021 VPD. The property is also near Broad Causeway which connects out to Miami Beach. It is surrounded by numerous local, regional and national retailers along this stretch of highway. Notable tenants include Home Depot, Whole Foods, LA Fitness, Publix and more.
LONG LEASE TERM REMAINING 14.3 years remaining. This location is set to take advantage of the large demographic of aging citizens residing in South Florida in the coming decades.
