For Sale
$19,295,214

2120 32Nd AveMiami, FL 33145

Prime Coral Gables retail, 15-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a newly renovated (2024), 23,519-square-foot freestanding retail building in Coral Gables, Florida. Located at 2120 SW 32nd Ave, Miami, FL 33145, this Class A property sits on a 1.95-acre lot (APN: 01-4109-012-0031) in a high-traffic area, adjacent to other national retailers. The property is 100% occupied by a CVS Pharmacy under a 15-year net lease with a corporate guarantee, offering significant long-term stability. The net rentable area is 23,344 square feet, with a price per square foot of $820.41 and a 4.75% cap rate. The asking price is $19,295,214. This single-story building benefits from a complete gut renovation completed in 2024, ensuring modern amenities and functionality. The property is zoned 6101 and offers a strong investment opportunity due to its prime location, long-term lease, and corporate guarantee. The lease includes eight five-year renewal options with a 5% rental increase in each option. This is a rare chance to acquire a high-quality, net-leased retail property in a thriving Miami-Dade County submarket, within the tax-free state of Florida.

Highlights

  • Newly renovated (2024) 23,519 SF freestanding retail building in Coral Gables, FL.
  • 100% occupied by CVS Pharmacy under a 15-year net lease with eight 5-year renewal options and 5% annual rent increases.
  • Absolute NNN lease with corporate guarantee.
  • Located on a 1.95-acre lot in a high-traffic retail area.
  • Asking price: $19,295,214, representing a 4.75% cap rate.

Property Details for 2120 32Nd Ave

Property type
Retail properties, Retail space
Square Feet
23,519 SF
Class
A
Year Renovated
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
84,942 SF

Location Insight

City
Miami
County
Miami-Dade
State
Florida
Latitude
25.7511401
Longitude
-80.2470673
2120 32Nd Ave, Miami, Florida

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2120 32Nd Ave
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