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Drug Store

Walgreens

524 Jefferson Ave, Miami Beach, FL 33139

Listing Price: Request For Offer

Tenant Name
Walgreens
Years Remaining On Lease
33.7
Guarantor
Corporate Guarantee
Rentable SF
15,020
Lease Type
Double Net
Rent Per Square Feet
$21.30

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase 524 Jefferson Avenue (the “Property”), a trophy, net-leased Walgreens located at the entrance to the world-renowned South Beach. The Property is a 15,020-squarefoot building sitting on a 33,600-square-foot lot, situated in one of the most desirable locations in Miami Beach, Florida. The building is strategically positioned on the hard corner of Jefferson Avenue and 5th Street, just steps from the beach, and is surrounded by dense residential, retail, hotels, and existing and proposed high-density developments. 5th Street is the primary east-west corridor entering South Beach with 35,000 to 80,000 average vehicles per day on this main gateway. The Property is also just minutes from the newly renovated state-of-the-art Miami Beach Convention Center, Lincoln Road, and some of South Beach’s most iconic resorts. South Beach, also nicknamed SoBe, has experienced years of booming economic development, and is the go-to destination for millions of visitors yearly who come to enjoy its beaches and the glamorous scene around its happening nightspots and celebrity-chef eateries. This investment opportunity offers prospective buyers an opportunity to acquire a net-leased asset with an investment-grade tenant, on an oversized parcel with future development potential.

Investment Highlights

  • Trophy Asset on World Famous South Beach
  • Oversized .77 Acre Parcel Provides Future Development Potential
  • Corporate Guaranteed, Net Lease With Minimal Landlord Responsibilities
  • Investment-Grade Tenant With Strong Sales
  • Long-Standing Tenant With Over 26 Years of Occupancy

Exclusively Listed By

Financing By

Listing Price: Request For Offer

Tenant Name
Walgreens
Years Remaining On Lease
33.7
Guarantor
Corporate Guarantee
Rentable SF
15,020
Lease Type
Double Net
Rent Per Square Feet
$21.30

Investment Highlights

  • Trophy Asset on World Famous South Beach
  • Oversized .77 Acre Parcel Provides Future Development Potential
  • Corporate Guaranteed, Net Lease With Minimal Landlord Responsibilities
  • Investment-Grade Tenant With Strong Sales
  • Long-Standing Tenant With Over 26 Years of Occupancy

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase 524 Jefferson Avenue (the “Property”), a trophy, net-leased Walgreens located at the entrance to the world-renowned South Beach. The Property is a 15,020-squarefoot building sitting on a 33,600-square-foot lot, situated in one of the most desirable locations in Miami Beach, Florida. The building is strategically positioned on the hard corner of Jefferson Avenue and 5th Street, just steps from the beach, and is surrounded by dense residential, retail, hotels, and existing and proposed high-density developments. 5th Street is the primary east-west corridor entering South Beach with 35,000 to 80,000 average vehicles per day on this main gateway. The Property is also just minutes from the newly renovated state-of-the-art Miami Beach Convention Center, Lincoln Road, and some of South Beach’s most iconic resorts. South Beach, also nicknamed SoBe, has experienced years of booming economic development, and is the go-to destination for millions of visitors yearly who come to enjoy its beaches and the glamorous scene around its happening nightspots and celebrity-chef eateries. This investment opportunity offers prospective buyers an opportunity to acquire a net-leased asset with an investment-grade tenant, on an oversized parcel with future development potential.

Exclusively Listed By

Financing By

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