Miami Beach, Florida – Our NNN Commercial Real Estate news is net leased retail shopping center. One of the largest NNN Commercial Real Estate Brokerage Companies has helped procure the sale of a NNN Commercial Property Development in Miami. The Net Leased Property is situated in what many call the Kendall area, west of Miami Beach. The Net Leased Property that has sold is known as the Kendall Hammocks Shopping Center. This NNN Commercial Real Estate Development was built in 1985. The Florida retail shopping center is unique as it consists of two components, a 42,357 square foot Babies “R” Us net leased property and an 18,141 square foot retail strip center. Some of the major net lease property tenants are Domino’s Pizza, Farm Stores and Sherwin Williams which is becoming a desirable net leased property tenant. This NNN Commercial Property Development is approximately 9 miles west of the Dadeland Mall, which is a very busy Florida retail shopping censer in Miami.
Miami Net Leased Properties
These Miami Net Leased Properties sold for around $10,197,000 million which equates to about $169 per square foot. This NNN Commercial Property Development deal was very unique as the Net Lease Property buyer assumed a securitized commercial loan on a portion of the NNN property and paid cash for the balance of the sales price using two separate entities. The Babies “R” Us Net Leased Property carried a commercial mortgage loan from a Life Insurance Company, which had to be assumed. The rest of the Miami retail shopping center was owned by a different Investor so it was not subject to the Life Insurance Company’s commercial loan. So this Triple Net Leased Properties acquisition was bifurcated (divided into two parts).
Opportunity for NNN Property Investors
The was a rare opportunity for NNN Property Investors to acquire a retail shopping center on Kendall Drive. This west area of Miami – Dade County is a highly sought after NNN commercial real estate market, This area of Kendall is situated in the Miami metropolitan statistical area (MSA) submarket. The Kendall commercial real estate market has enjoyed high occupancy rates, even with this long economic downturn. This Kendall, Florida submarket owns the average household incomes of over $59,9360 and a 3 mile population of over 152,000 Floridians for retail foot traffic. The NNN Commercial Property development is at 15625 North Kendall Drive, in Miami, with the Florida zip code of 33196. This NNN Commercial Real Estate retail project is at the corner of SW 157th Avenue and SW 88 th Street and sits on about 1.4 acres of land.
Miami – Kendall Area Commercial Properties
157th Kendall LLC and 157th Kendall 2, LLC purchased this Florida NNN Commercial Real Estate development from a limited liability company (LLC) which is based in Miami. These Buyers will receive a Net Lease Investment with a strong and stable cash flow. The Seller of the Net Leased Property Development had owned this property for more than 15 Years and has Low Rents per square foot. This Miami – Kendall area is known for being a low vacancy sub-market. This Florida Net Leased Property development is situated on the highly Coveted Kendall Drive and across from an excellent Net Lease Property Tenant, Walmart.
We are pleased to offer NNN Commercial Property for sale to qualified investors with sources available for attractive CTL Financing. Contact Net Lease Properties to purchase Commercial Real Estate all across the Country.
Triple Net Lease Properties qualifications:
• Long-term ground lease guaranteed by Investment Grade Tenants
• Net Leased Property tenants rated S&P: BB- or higher.
• Absolute NNN lease properties with 12 plus years remaining and rent increases are highly desirable.
• NNN Commercial Real Estate developments positioned at a strategic location within a major retail corridor and with Interstate access.
• Triple Net Leased Properties with a site that offers convenient access (especially corner location) and excellent visibility
• Attractive assumable CTL financing in place with Commercial Loans having a fixed rate, amortized, and non-recourse loans
• Located near prestigious retail shopping malls with over 200 retailers
