Skip to main content

Shopping Strip

Miami Multi-Tenant Retail – Fontainebleau Community – 7.07% Cap w/Upside

9610 Fontainebleau Blvd, Miami, FL 33172

Listing Price: $8,707,011

Cap Rate
7.07%
Gross SF
11,890
Rentable SF
11,890
Price/Gross SF
$732.30
Lot Size
1.70 acres
Year Built
1973

Investment Overview

Marcus & Millichap is pleased to present for sale the Blue Grotto Plaza at Fountainebleau in the center of Miami-Dade county. Blue Grotto is comprised of 11,890 Square Feet of multi-tenant retail space. Currently, the property is 94% occupied and offers over 68 Parking Spaces, 4.40 Spaces per 1,000 Square Feet. The Blue Grotto was built in 1973/1980 and recently renovated with a new roof in 2023 and is constructed as a Twin T Concrete Roof Structure. The plaza has great Curb Appeal as it sits on a Signalized Intersection with 2 Curb Cuts allowing for ease of Ingress and Egress. The tenant mix serves the surrounding neighborhoods as it includes Food & Beverage and Service Oriented tenants.

The Blue Grotto Plaza benefits from a lack of supply of retail along corridor as it is the only retail strip inside the Fontainebleau Blvd. Additionally, there are over Six Thousand Apartment Units within half a mile and 37,316 People within half a mile. Due to these factors, Six out of Ten tenants have occupied their spaces over Ten Years, some over Twenty Years. All Leases are structured as Triple Net as each Tenant pays their Pro-Rata Share of any Increases in Taxes and Insurance deduced from their Base Year. All Tenants pay their complete Pro-Rata share of Common Area Maintenance.

Fontainebleau, located in Miami-Dade County, is distinguished by its high-density urban landscape, supported by a network of office buildings that underpin its thriving retail sector. Situated in close proximity to Miami International Airport, Fontainebleau benefits from extensive exposure to both domestic and international travelers, fostering a vibrant commercial ecosystem.

Investment Highlights

  • Multi-Tenant Retail Strip Center Located in the Center of Miami-Dade County
  • 6 out of 10 Tenants Have Occupied Their Space for Over 10+ years
  • The Roof was Replaced in 2023 - Currently Under Warranty
  • Excellent Parking Ratio 68 Parking Spaces / 4.40 Spaces per 1,000 Square Feet
  • 5% Annual Rent Increases on all Leases- All Tenants Reimburse for the Increase in Taxes & Insurance
  • Located on a Signalized Intersection with 2 Curb Cuts, each allowing for easy Ingress & Egress
  • The Only Retail Center Inside the Fontainebleau Blvd – Over 6,000 Residential Units within ½ 7Mile

Exclusively Listed By

Financing By

Shopping Strip

Miami Multi-Tenant Retail – Fontainebleau Community – 7.07% Cap w/Upside

Listing Price: $8,707,011

Cap Rate
7.07%
Gross SF
11,890
Rentable SF
11,890
Price/Gross SF
$732.30
Lot Size
1.70 acres
Year Built
1973

Investment Highlights

  • Multi-Tenant Retail Strip Center Located in the Center of Miami-Dade County
  • 6 out of 10 Tenants Have Occupied Their Space for Over 10+ years
  • The Roof was Replaced in 2023 - Currently Under Warranty
  • Excellent Parking Ratio 68 Parking Spaces / 4.40 Spaces per 1,000 Square Feet
  • 5% Annual Rent Increases on all Leases- All Tenants Reimburse for the Increase in Taxes & Insurance
  • Located on a Signalized Intersection with 2 Curb Cuts, each allowing for easy Ingress & Egress
  • The Only Retail Center Inside the Fontainebleau Blvd – Over 6,000 Residential Units within ½ 7Mile

Investment Overview

Marcus & Millichap is pleased to present for sale the Blue Grotto Plaza at Fountainebleau in the center of Miami-Dade county. Blue Grotto is comprised of 11,890 Square Feet of multi-tenant retail space. Currently, the property is 94% occupied and offers over 68 Parking Spaces, 4.40 Spaces per 1,000 Square Feet. The Blue Grotto was built in 1973/1980 and recently renovated with a new roof in 2023 and is constructed as a Twin T Concrete Roof Structure. The plaza has great Curb Appeal as it sits on a Signalized Intersection with 2 Curb Cuts allowing for ease of Ingress and Egress. The tenant mix serves the surrounding neighborhoods as it includes Food & Beverage and Service Oriented tenants. The Blue Grotto Plaza benefits from a lack of supply of retail along corridor as it is the only retail strip inside the Fontainebleau Blvd. Additionally, there are over Six Thousand Apartment Units within half a mile and 37,316 People within half a mile. Due to these factors, Six out of Ten tenants have occupied their spaces over Ten Years, some over Twenty Years. All Leases are structured as Triple Net as each Tenant pays their Pro-Rata Share of any Increases in Taxes and Insurance deduced from their Base Year. All Tenants pay their complete Pro-Rata share of Common Area Maintenance. Fontainebleau, located in Miami-Dade County, is distinguished by its high-density urban landscape, supported by a network of office buildings that underpin its thriving retail sector. Situated in close proximity to Miami International Airport, Fontainebleau benefits from extensive exposure to both domestic and international travelers, fostering a vibrant commercial ecosystem.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower