13001 Dixie HwyPinecrest, FL 33156

Property Details for 13001 Dixie Hwy

Year built

1965

Construction

CONCRETE

Lot size

1.25 AC

Property size (Sq ft)

8,112 SF

Zone code

6200:COMMERCIAL,ARTERIAL

Property type

Retail properties

Property subtype

Banks

APN

20-5015-000-0530

APU

2050150000530

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new Chick-fil-A restaurant in the affluent Pinecrest area of Miami, Florida. The property boasts a 15-year triple-net (NNN) ground lease commencing October 17, 2024, and expiring October 31, 2039, with ten 5-year renewal options. The 3,585 square foot building sits on a 1.25-acre lot and enjoys 100% occupancy. The lease includes attractive 8% rent bumps every five years, ensuring consistent income growth throughout the lease term and option periods. The current Net Operating Income (NOI) is $410,000, resulting in a 4.00% cap rate. This location benefits from its position within the Miami metropolitan area, a vibrant market with a population exceeding 2.7 million residents. Pinecrest itself is known for its high average household income, exceeding $155,000 within a one-mile radius and projected to reach $178,449 by 2028. The property's strategic location on South Dixie Highway provides excellent visibility and accessibility to over 68,000 vehicles daily. This investment offers a compelling combination of a strong tenant, a long-term lease, and a prime location in a high-growth market. The property is currently under construction, with an anticipated opening in the fourth quarter of 2024.

• CAP approach

  CAP return

  Valuation

  6%

  $8,443,471

  6.5%

  $7,793,973

  7%

  $7,237,261

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,562,234

  Geo Method

  $6,562,234

• Alternative Use

  Use

  Valuation

  Residential

  $6,574,508

  Hospitality

  $6,022,214

  Educational

  $5,010,412

  Medical

  $5,182,727

  Retail

  $7,793,973

Location Insight

City

Pinecrest

County

Miami-dade

State

Florida

Latitude

25.6492

Longitude

-80.3311

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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