900 Biscayne Bay Unit R-101B Miami, FL
KEY FEATURES/HIGHLIGHTS MARCOS PUENTE C. 305 851 1947 >>Extremely low price point of $1,123,307 O. 786 517 4859 [email protected] >>Above market cap rate of 6.05% with annual increases >>Additional mezzanine floor not included in SF calculation COLLIERS INTERNATIONAL SOUTH FLORIDA, LLC >>25 foot ceilings and windows 801 Brickell Avenue, Suite 850# Miami, FL 33131 >>Directly across from American Airlines Arena 305 359 3690 www.colliers.com/southflorida >>Unit houses the only bakery/market serving Ten Museum Park, One Thousand Museum, 900 Biscayne Bay, and the Marina Blue condominiums in the immediate area >>Projected market rent growth as World Center, All Aboard, and neighboring developments are completed. Current Monthly Rent Security Deposit Advance Rent Lease Term Paying Rent Since Rent Commencement Option Rent increase Type ofLease Tenant Price Per SF Total Area Cap Rate NOI Address Asking Price Property Summary
NE 2nd Avenue $5,678.33 N/A $20,000 5 years June 2015 2017 3 5-year 3% NNN StarFoods Market and Bistro $601.78 1,742 SF 6.06% $68,140 900 BiscayneBlvdUnitR-101B, Miami,FL $1,123,307 FOR SALE > Prime Retail Location
Colliers International is please to exclusively offer for sale the retail condominiums at 900 Biscayne Bay - Unit R-101 B (“900 Biscayne”). The property offers any investor the opportunity to purchase a world class retail condominium, located on the ground floor of the 900 Biscayne Bay luxury condominium project on Biscayne Boulevard directly across from the American Airlines arena in the heart of Downtown Miami.
New developments currently under construction within a short walking distance of 900 Biscayne include Paramount at Miami World Center; One Thousand Museum by the late Zaha Hadid, at which units are priced between $5,800,000 and $22,000,000; and All Aboard Florida connecting Broward, Palm Beach, and Orlando directly with Downtown Miami nearby 900 Biscayne.
PURCHASE PRICE: $1,123,307 Cap Rate: 6.06%
CURRENT INCOME/EXPENSES Income/Expenses
Source 2016 Total Base Rent Unit PSF Starfoods Market R101-B $ 68,140 Total Base Rent $ 68,140 $ 39.12
Additional Income CAM/Association Reimbursement $ 24,480 $ 14.05 Property Tax Reimbursement $ 23,364 $ 13.41 Sales Tax Reimbursement $ 8,119 $ 4.66 Total Additional Income $ 55,963 $ 32.13
Effective Gross Income $ 124,103 $ 71.24
Operating Expenses Recoverable Expenses CAM/Association $ 24,480 $ 14.05 Property Taxes $ 23,364 $ 13.41 Sales Tax $ 8,119 $ 4.66
Total Recoverable Expenses $ 55,963 $ 32.13
NOI $ 68,140 SITE PLAN MARCOS PUENTE C. 305 851 1947 O. 786 517 4859 [email protected]
COLLIERS INTERNATIONAL SOUTH FLORIDA, LLC 801 Brickell Avenue, Suite 850# Miami, FL 33131 305 359 3690 www.colliers.com/southflorida