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Restaurant

Checkers Miami Little River

227 NW 62nd St, Miami, FL 33150

Listing Price: $1,957,900

Cap Rate
4.75%
Tenant Name
Checkers
Years Remaining On Lease
19.9
Gross SF
906
Guarantor
Corporate Guarantee
Rentable SF
906
Price/Gross SF
$2,161.04
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$102.65

Investment Overview

Marcus & Millichap is proud to market the Miami corporate Checkers NNN leased property located in the highly sought after Little River Development Corridor in the heart of Miami, Florida. The subject property is a new construction +/- 906 square foot retail property with drive-thru that was completed and is set to open in July 2021. The building sits on a corner parcel of 23,420 square feet of T5-O zoned land on NE 62nd Street just east of the Interstate 95. This area of Miami, known as Little River/ Little Haiti is experiencing an incredible amount of development and investment from multiple investment groups looking to build mixed-use and entertainment projects in the immediate area. The developer/owner has signed a 20-Year absolute NNN lease with Checkers Drive-In Restaurants Inc., an S & P rated company with over 800 Locations across the country. The company has grown recently, bolstered by the need for drive-thru food options during the Covid pandemic. This area of Miami is ideally situated to bring traffic and shoppers to this Checkers concept with incredible density of over 32,234 people living within one mile of the subject property and over 577,760 people living within three miles. The corner location is also directly across the street from Miami’s Edison Senior High School and iTech Mega Technology Magnet High School which will bring incredible amounts of daytime foot traffic to the location as well. Just a few blocks to the west of the subject property is the on and off ramp to I-95 which boasts over 200,000 vehicles per day. This is an ideal opportunity for an investor to purchase a zero-management dense infill single tenant property in a dynamic area of Miami. Rarely do new construction single tenant properties come to market in Miami with aggressive 15 percent rent bumps every five years.

Investment Highlights

  • New Construction Property Located Just East of I-95 Entrance/ Exit Ramp
  • Rare Corporate Checkers 20 Year Lease with Zero Management Required
  • Aggressive 15% Base Rental Increases Every 5 Years
  • Located in Dynamic Little River area of Miami
  • T5-O Zoned Land on Corner Location
  • Across the Street from Edison Senior High School
  • Ideally located within Miami-Dade Opportunity Zone

Exclusively Listed By

Restaurant

Checkers Miami Little River

Listing Price: $1,957,900

Cap Rate
4.75%
Tenant Name
Checkers
Years Remaining On Lease
19.9
Gross SF
906
Guarantor
Corporate Guarantee
Rentable SF
906
Price/Gross SF
$2,161.04
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$102.65

Investment Highlights

  • New Construction Property Located Just East of I-95 Entrance/ Exit Ramp
  • Rare Corporate Checkers 20 Year Lease with Zero Management Required
  • Aggressive 15% Base Rental Increases Every 5 Years
  • Located in Dynamic Little River area of Miami
  • T5-O Zoned Land on Corner Location
  • Across the Street from Edison Senior High School
  • Ideally located within Miami-Dade Opportunity Zone

Investment Overview

Marcus & Millichap is proud to market the Miami corporate Checkers NNN leased property located in the highly sought after Little River Development Corridor in the heart of Miami, Florida. The subject property is a new construction +/- 906 square foot retail property with drive-thru that was completed and is set to open in July 2021. The building sits on a corner parcel of 23,420 square feet of T5-O zoned land on NE 62nd Street just east of the Interstate 95. This area of Miami, known as Little River/ Little Haiti is experiencing an incredible amount of development and investment from multiple investment groups looking to build mixed-use and entertainment projects in the immediate area. The developer/owner has signed a 20-Year absolute NNN lease with Checkers Drive-In Restaurants Inc., an S & P rated company with over 800 Locations across the country. The company has grown recently, bolstered by the need for drive-thru food options during the Covid pandemic. This area of Miami is ideally situated to bring traffic and shoppers to this Checkers concept with incredible density of over 32,234 people living within one mile of the subject property and over 577,760 people living within three miles. The corner location is also directly across the street from Miami’s Edison Senior High School and iTech Mega Technology Magnet High School which will bring incredible amounts of daytime foot traffic to the location as well. Just a few blocks to the west of the subject property is the on and off ramp to I-95 which boasts over 200,000 vehicles per day. This is an ideal opportunity for an investor to purchase a zero-management dense infill single tenant property in a dynamic area of Miami. Rarely do new construction single tenant properties come to market in Miami with aggressive 15 percent rent bumps every five years.

Exclusively Listed By

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