Shopping Center in North Miami Beach |
Great Shopping Center located in the rapidly growing area of North Miami Beach. Shopping Center consists of 6 store fronts, currently 100% leased. Tenants include several restaurants, with full commercial kitchens and build-out, optometrist center, well qualified Church, and one office. This building has ample parking with over 30 parking spaces including tenant access and parking in rear of building. Solid construction includes Twin T concrete roof and full accordion shutters throughout. The subject building is 8,722 square feet of leasable space, on a large 22,000 square foot lot. This property is currently netting ,324.00 per year. Low expenses at ,076.00 per year, providing a strong Capitalization rate of 7.1%. All of the Tenants pay for their own utilities, with most of them paying a portion of CAM. There are 5% annual increases on current rents.