7400 NW S River Dr | Miami, FL 33166
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7400 NW S River Dr
Miami, FL 33166
Medley Value Add Retail Strip- 5 out of 8 MTM · Retail Property For Sale
Investment Highlights
- Value Add Retail Strip - 5 out of 8 Tenants on Month-to-Month Leases – Immediate Upside Potential
- Three Fully Built out Restaurants – Subway has Occupied their Space over 15 years, while the two other restaurant spaces are on Short Term Leases
- Free standing retail with 360-degree parking. 34 parking spots equating to a parking ratio of 4.14 spaces per 1,000 SF
- Situated on a signalized intersection with Over 68,000 Vehicles Per Day on a standalone lot, Bordered by three roadways
- Roof replaced less than 5 years ago – Property will be delivered with 40-year recertification
- Over 20,000 people within a 1-Mile Radius
Executive Summary
Marcus & Millichap is pleased to present 7400 NW S River Drive in Medley, Florida (Miami MSA). This 8,182 SF retail strip is located on a 28,074 SF standalone lot, bordered by three roadways. The property has 8 tenants, including 3 restaurants. With most tenants currently paying below-market rents, there is substantial opportunity to reposition 5 of them within the next 5 months.
This strip center is located on the eastern portion of Medley and benefits from traffic flow coming to and from West Okeechobee Road which has traffic counts exceeding 55,000 vehicles per day. Additionally, it is located on the outskirts of Hialeah, one of Florida's most densely populated cities with over 220,000 residents, it offers exceptional visibility and accessibility.
The property, which recently had the roof replaced and is still under warranty, features 34 parking spaces, providing a healthy parking ratio of 4.14 spaces per 1,000 SF.
This presents an exceptional value-add opportunity for investors, with the potential to reposition 59% of the total square footage within the first 5 months.
This strip center is located on the eastern portion of Medley and benefits from traffic flow coming to and from West Okeechobee Road which has traffic counts exceeding 55,000 vehicles per day. Additionally, it is located on the outskirts of Hialeah, one of Florida's most densely populated cities with over 220,000 residents, it offers exceptional visibility and accessibility.
The property, which recently had the roof replaced and is still under warranty, features 34 parking spaces, providing a healthy parking ratio of 4.14 spaces per 1,000 SF.
This presents an exceptional value-add opportunity for investors, with the potential to reposition 59% of the total square footage within the first 5 months.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,210 SF
Building Class
C
Year Built
1986
Price
£2,204,125
Price Per SF
£268
Net Initial Yield
4.18%
NOI
£92,166
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.29
Lot Size
0.64 AC
Opportunity Zone
Yes
Zoning
M-1
Frontage
Amenities
- Signalised Intersection
PROPERTY TAXES
| Parcel Number | 22-3011-002-1162 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £1,050,795 |
PROPERTY TAXES
Parcel Number
22-3011-002-1162
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£1,050,795
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