Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a fully stabilized multi-tenant retail asset located at 5655 Northwest 195th Drive in Miami Gardens, FL. Offered at $1,400,000, this 8,968-square-foot building sits on a 23,096-square-foot parcel and provides a 6.51 percent capitalization rate based on a current Net Operating Income of $91,178. Constructed in 1986, the subject property features a highly functional layout demised into 11 physical bays. The facility is currently configured to accommodate eight distinct retail tenants, maximizing the 7,821 square feet of net leasable area. The site provides 24 surface parking spaces, equating to a ratio of 2.68 spaces per 1,000 square feet, and benefits from its BU-2 zoning classification. Strategically positioned within the thriving Miami Gardens submarket, the asset benefits from strong local demographics and robust daily traffic counts. The surrounding trade area exhibits a high demand for neighborhood retail services, which creates a highly competitive leasing environment. This advantageous market positioning ensures a captive consumer base and provides a durable competitive edge, catering perfectly to the localized retail needs of the rapidly growing community. The financial structure is currently based on gross leases, generating an annual rental income of $144,000. At a pricing of $179.01 per net leasable square foot, the asset presents a compelling investment basis well below replacement cost. Furthermore, the property's established presence within a dense commercial corridor offers a clear pathway to capture future market rent growth, securing the asset's long-term value as a premier South Florida retail investment.