13199 112Th StMiami, FL 33186

Property Details for 13199 112Th St

Year built

1981

Construction

CONCRETE

Lot size

1.05 AC

Property size (Sq ft)

4,377 SF

Zone code

6400:COMMERCIAL,CENTRAL

Property type

Land

Property subtype

Commercial land

APN

30-5911-031-0010

APU

3059110310010

Description

This exceptional investment opportunity presents a 13,295 square foot, free-standing CVS Pharmacy in Miami, Florida. Located at 13199 SW 112th St, 33186, this single-tenant property sits on a 1.05-acre lot and boasts a prominent location at a signalized intersection, offering excellent visibility. The building, constructed in 2023, features a drive-thru and is part of a Publix-anchored shopping center, ensuring high foot traffic and a strong consumer base. The absolute NNN lease with CVS Health commenced December 27, 2022, and has a remaining term of approximately 24.2 years, expiring January 31, 2049. Rent increases are structured with 10% bumps every five years. The property generates a Net Operating Income (NOI) of $420,000, representing a 5.00% cap rate and a price per square foot of $631.82. The asking price is $8,400,000. This investment benefits from a strong demographic profile, including a high average household income within a one-mile radius and a large population in the immediate trade area. The property's location in West Kendall, a highly populated submarket of South Florida, and the tenant's strong financial standing (CVS Health Corporation is ranked 6th on the Fortune 500 list as of 2024) make this a secure and lucrative investment opportunity. The property also includes a MinuteClinic. The Publix-anchored center has recently undergone renovations, including a new 47,000 square foot Publix store. This CVS relocated from a high-performing inline space within the same center.

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.6634

Longitude

-80.407

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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