Investment Overview

Marcus & Millichap is pleased to exclusively offer the sale of 720-838 NW 183rd St, Miami Gardens , FL 33169. The property consists of a 52,721 SF shopping center on a 262,231 SF (6.02-acre) lot. The property is in an excellent location on the corner of NW 183rd Street and NW 7th Avenue with excellent frontage, visibility and accessibility. Average daily traffic counts are 33,000 vehicles on NW 183rd St and 11,500 vehicles on NW 7th Ave. The center is 100 percent occupied, offering a strong and stable cash-flow for potential investors with significant upside potential through multiple short-term leases on below market rents. All leases feature 3-5 percent annual rent increases, providing strong rent growth for a potential buyer. There is also further value-add potential through the addition of an outparcel on the property, as well as the possibility of a multi-family development on a portion of the property. The property sits directly across from a Presidente Supermarket anchored shopping center where average rents are over $30/SF NNN. The area has a dense population with over 186,000 residents living within a 3-mile radius. The average household income is over $75K. The investment presents a unique opportunity for an investor to own a high-quality asset in one of Miami’s rapidly growing neighborhoods.