1250 Flagler AveHomestead, FL 33030

Property Details for 1250 Flagler Ave

Year built

1958

Construction

CONCRETE

Lot size

0.60 AC

Property size (Sq ft)

7,008 SF

Zone code

6600:COMMERCIAL,LIBERAL

Property type

Office properties

Property subtype

Office buildings

APN

10-7907-006-0050

APU

1079070060050

Description

This exceptional investment opportunity presents a fee-simple ownership of a 7,008 square foot AmeriVet Animal Hospital in Homestead, Florida. Located at 1250 N Flagler Ave, 33030, this property boasts a strong 10.4-year remaining lease term (expiring 09/30/2034) with a corporate guarantee from AmeriVet Veterinary Partners, a leading national veterinary practice with over 214 locations. The lease, initiated on 09/09/2019, is a triple-net (NNN) lease with built-in rent bumps of 15% in years 6 and 11, and two 5-year renewal options. The property generates a substantial net operating income (NOI) of $126,500, yielding a 7.00% cap rate on the asking price of $1,807,142. Built in 1958 on a 0.6-acre lot, the hospital is strategically positioned near major highways, businesses, and residential areas, including prominent retailers like Publix and Pet Supermarket. Its proximity to Baptist Health Homestead Hospital further enhances its appeal. The hospital provides comprehensive veterinary services, catering to a large demographic within a 5-mile radius (over 170,000 residents). This recession-resistant investment benefits from the robust growth of the veterinary services market and offers a stable, long-term income stream. The property's 100% occupancy ensures consistent cash flow.

• CAP approach

  CAP return

  Valuation

  6%

  $5,096,412

  6.5%

  $4,704,380

  7%

  $4,368,352

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,303,862

  Geo Method

  $2,303,862

• Alternative Use

  Use

  Valuation

  Residential

  $5,833,431

  Hospitality

  $5,343,392

  Educational

  $4,445,639

  Medical

  $4,598,532

  Retail

  $6,915,438

Location Insight

City

Homestead

County

Miami-dade

State

Florida

Latitude

25.4821

Longitude

-80.464

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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