600 Payne DrMiami Springs, FL 33166
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The subject property includes three contiguous parcels totaling 7,877 SF and a 4,000 SF building, which encompasses outdoor dining. There are 15 parking spaces available. The offering is a single-tenant NNN retail occupied by Woody’s Tavern Grill, which just signed a new 10-year NNN lease with (1) 5-Year Option with 4% annual increases. The first year of the lease operates under a gross rent model, transitioning to a NNN lease from Year 2 onwards, yielding an 8% cap rate. This shift significantly reduces landlord responsibilities for operating expenses, taxes, and insurance. This property offers a robust investment opportunity with a strong tenant in place, a renovated structure.
| 3 months ago | Price changed to $1,250,000 | |
| 3 months ago | Listing updated with changes from the MLS® | |
| 8 months ago | Status changed to Active | |
| 8 months ago | Listing first seen on site |
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