Walgreens

1400 Collins Avenue, Miami Beach, FL
Deal Type:
Net Lease
Price:
$14,946,667
Cap Rate:
4.50%
Current Rent:
$672,600
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 15 years
Renewal Options:
12, 5-Year
Building Sq. Ft.:
11,210 SF
Rent Increases:
5% Every 5 Years, including options
Site Size:
.32 Acres
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners

Investment Highlights

  • Commitment: Brand new 15-year lease with 5% rental escalations throughout the initial term and options
  • Location: Asset situated on a signalized hard corner intersection on Collins Avenue and 14th street with over 14,000 vehicles per day
  • Landlord Responsibilities: Allows for a true passive investment with no management required
  • Tax Benefits: Investors can depreciate land and building due to fee simple ownership. No state income tax
  • Demographics: Over 58,000 residents and average household incomes of $109,000 within a 3-mile radius
  • Credit: Opportunity to acquire an investment grade (S&P: BBB) trophy asset in world famous South Beach
  • Store Sales: This location grosses $8.1 million in revenue

Listing Agents

Adam English

Managing Director
256 694 9803
Adam@stream-cp.com

Sasha Dominguez

Vice President
786 443 4960
Sasha@stream-cp.com

Jordan Shtulman

Managing Principal
847 226 4133
Jordan@stream-cp.com

Jonathan Wolfe, Lic. #BK350717

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