For Sale
$3,800,000

16685 2Nd AveMiami, FL 33169

High-yield, corporate-guaranteed retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple interest in a ±2,200 square foot, single-tenant retail building situated on a 0.29-acre lot in Miami, Florida. The property is currently 100% occupied by Curaleaf Holdings, Inc., a leading multi-state cannabis operator, under a Net Lease (NN+) agreement with minimal landlord responsibilities. The lease, commencing March 31, 2018, and expiring March 31, 2028, has approximately 3.4 years remaining, with a 3% annual rent increase and options for lease extensions (1 and 5-year options). The building, constructed in 2008 and extensively renovated in 2017, features 20 parking spaces and is zoned BU-2 (Business District). The property boasts a strong location on a corner lot with high visibility, directly fronting a major thoroughfare with over 61,500 vehicles per day, and situated near the Golden Glades Interchange, providing easy access to major highways. The property offers a compelling 6.03% cap rate with a Net Operating Income (NOI) of $229,258 and an asking price of $3,800,000 ($1,727.27 per square foot). This presents a rare opportunity for a passive income investment with a credit-rated, corporate-guaranteed tenant and exceptional underlying real estate fundamentals in a rapidly developing Miami submarket. The property's location at the gateway to North Miami Beach and the 167th Street Corridor offers significant long-term growth potential.

Highlights

  • Fee-simple ownership of a ±2,200 square foot, single-tenant retail building on a 0.29-acre lot in Miami, FL.
  • Net-leased to Curaleaf Holdings, Inc., a leading multi-state cannabis operator, minimizing landlord responsibilities.
  • High-visibility corner location on NE 167th St (61,500+ VPD), one block from the Golden Glades Interchange.
  • Corporate-guaranteed lease with a publicly traded company, providing a secure income stream.

Property Details for 16685 2Nd Ave

Property type
Retail properties, Retail space
Square Feet
2,200 SF
Year Built/Renovated
2008/2017
Buildings
1
Stories
1
Lot Size (sq. ft)
12,632 SF

Location Insight

City
Miami
County
Miami-Dade
State
Florida
Latitude
25.9274746
Longitude
-80.2041346
16685 2Nd Ave, Miami, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
16685 2Nd Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message