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Auto Dealership

Tesla

4039 NE 1st Ave, Miami, FL 33137

Listing Price: $32,500,000

Cap Rate
4.21%
Tenant Name
Tesla, Inc.
Years Remaining On Lease
6.3
Guarantor
Corporate Guarantee
Rentable SF
5,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$268.02

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for the Tesla auto dealership located at 4039 Northeast 1st Avenue in Miami, Florida. The site is strategically positioned in the heart of Miami’s Design District and consists of roughly 5,100 rentable square feet of building space on an estimated 0.13-acre parcel of land. The building additionally features a second floor that is not currently in use, bringing the total potential square footage to approximately 10,200. This Tesla dealership was constructed in 2019 with state-of-the-art improvements. The property is zoned T5 and can be subdivided and also allows for the investor to add additional floors of building space up to five stories. This Tesla dealership is subject to a 10-year lease, which commenced February 28th, 2018, and has nearly seven (7) years remaining on the base term. The current annual rent is $1,228,463 and is scheduled to increase by three percent (3.0%) annually throughout the base term, offering an attractive hedge against inflation.

Investment Highlights

  • Super Urban Core Generational Opportunity in the Miami Design District!
  • 10-Year Lease with 6.5+ Years Remaining on the Base Term
  • Attractive Hedge Against Inflation | 3.00% Annual Rental Increases

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Listing Price: $32,500,000

Cap Rate
4.21%
Tenant Name
Tesla, Inc.
Years Remaining On Lease
6.3
Guarantor
Corporate Guarantee
Rentable SF
5,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$268.02

Investment Highlights

  • Super Urban Core Generational Opportunity in the Miami Design District!
  • 10-Year Lease with 6.5+ Years Remaining on the Base Term
  • Attractive Hedge Against Inflation | 3.00% Annual Rental Increases

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for the Tesla auto dealership located at 4039 Northeast 1st Avenue in Miami, Florida. The site is strategically positioned in the heart of Miami’s Design District and consists of roughly 5,100 rentable square feet of building space on an estimated 0.13-acre parcel of land. The building additionally features a second floor that is not currently in use, bringing the total potential square footage to approximately 10,200. This Tesla dealership was constructed in 2019 with state-of-the-art improvements. The property is zoned T5 and can be subdivided and also allows for the investor to add additional floors of building space up to five stories. This Tesla dealership is subject to a 10-year lease, which commenced February 28th, 2018, and has nearly seven (7) years remaining on the base term. The current annual rent is $1,228,463 and is scheduled to increase by three percent (3.0%) annually throughout the base term, offering an attractive hedge against inflation.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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