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Shopping Strip

Coral Gables NNN Retail | Owner Financing 5.25%

274 Alhambra Cir, Coral Gables, FL 33134

Listing Price: $3,800,000

Cap Rate
5.03%
Gross SF
4,850
Rentable SF
4,850
Price/Gross SF
$783.51
Lot Size
0.11 acres
Year Built
1940

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a prime two-tenant net leased
asset located at 274 Alhambra Circle in Coral Gables, Florida. Positioned along one of the city's
most prominent business corridors, this 4,850-square-foot building sits on a 5,000-square- foot
parcel, offering a rare investment opportunity in a high-barrier-to-
entry market.

Strategically situated in the heart of Coral Gables, the property boasts exceptional walkability
and is just two blocks from Miracle Mile, the area’s premier destination for dining, shopping, and
entertainment. The asset presents significant future upside, as current rental rates average
$39 per square foot NNN, well below the prevailing market rates.

Additionally, the property is enrolled in the Florida Department of Environmental Protection (FDEP)
providing state-funded remediation and liability protection related to dry cleaning solvent
contamination, minimizing environmental risk for ownership.

This generational asset has remained under single ownership since 1992, underscoring its stability
and long-term value. Coral Gables is one of the most affluent submarkets in Miami-Dade County, with
a median household income exceeding $118,000 per year, further enhancing the
property’s desirability and investment potential.

Investment Highlights

  • Attractive Long-Term Seller Financing Available (50% Loan to Value starting at 5.25% Interest Rate) Two Tenant Retail Building on NNN Leases with Below Market Rents.
  • Fully Built out Restaurant - https://rccafe.miami/ Established Dry Cleaner with Over 30 Years of Operation (FDEP Enrolled).
  • Pierre's Dry Cleaner installed a new Hydrocarbon machine in 2016 to minimize environmental impact.
  • Enrolled in the Florida Department of Environmental Protection (FDEP) – Provides environmental liability protection and state-funded remediation for potential dry cleaning solvent contamination, minimizing risk for property owners.
  • Located on Alhambra Circle, one of Coral Gables' most prominent streets, with a significant influx of professionals during working hours—home to 27 office buildings totaling over 2.8 million square feet.
  • Coral Gables is one of Miami's most affluent neighborhoods: Median household income exceeding $118,000 | Population exceeding 245,000 within a 3-mile radius.
  • Two blocks from Miracle Mile, Coral Gables' premier destination for dining, shopping, and entertainment.

Exclusively Listed By

Financing By

Shopping Strip

Coral Gables NNN Retail | Owner Financing 5.25%

Listing Price: $3,800,000

Cap Rate
5.03%
Gross SF
4,850
Rentable SF
4,850
Price/Gross SF
$783.51
Lot Size
0.11 acres
Year Built
1940

Investment Highlights

  • Attractive Long-Term Seller Financing Available (50% Loan to Value starting at 5.25% Interest Rate) Two Tenant Retail Building on NNN Leases with Below Market Rents.
  • Fully Built out Restaurant - https://rccafe.miami/ Established Dry Cleaner with Over 30 Years of Operation (FDEP Enrolled).
  • Pierre's Dry Cleaner installed a new Hydrocarbon machine in 2016 to minimize environmental impact.
  • Enrolled in the Florida Department of Environmental Protection (FDEP) – Provides environmental liability protection and state-funded remediation for potential dry cleaning solvent contamination, minimizing risk for property owners.
  • Located on Alhambra Circle, one of Coral Gables' most prominent streets, with a significant influx of professionals during working hours—home to 27 office buildings totaling over 2.8 million square feet.
  • Coral Gables is one of Miami's most affluent neighborhoods: Median household income exceeding $118,000 | Population exceeding 245,000 within a 3-mile radius.
  • Two blocks from Miracle Mile, Coral Gables' premier destination for dining, shopping, and entertainment.

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a prime two-tenant net leased asset located at 274 Alhambra Circle in Coral Gables, Florida. Positioned along one of the city's most prominent business corridors, this 4,850-square-foot building sits on a 5,000-square- foot parcel, offering a rare investment opportunity in a high-barrier-to- entry market. Strategically situated in the heart of Coral Gables, the property boasts exceptional walkability and is just two blocks from Miracle Mile, the area’s premier destination for dining, shopping, and entertainment. The asset presents significant future upside, as current rental rates average $39 per square foot NNN, well below the prevailing market rates. Additionally, the property is enrolled in the Florida Department of Environmental Protection (FDEP) providing state-funded remediation and liability protection related to dry cleaning solvent contamination, minimizing environmental risk for ownership. This generational asset has remained under single ownership since 1992, underscoring its stability and long-term value. Coral Gables is one of the most affluent submarkets in Miami-Dade County, with a median household income exceeding $118,000 per year, further enhancing the property’s desirability and investment potential.

Exclusively Listed By

Financing By

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