2731 CORAL WAY Miami, FL 33145 1 NON - ENDORSEMENT AND DISCLAIMER NOTICE Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap Real Estate Investment Services of Florida, Inc. ("Marcus & Millichap") and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. 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PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. 2731 SW 22 ST Miami, FL ACT ID ZAA0390562 2 2731 SW 22 ST TABLE OF CONTENTS SECTION INVESTMENT OVERVIEW 01 Offering Summary Regional Map Local Map Aerial Photo MARKET COMPARABLES 02 Sales Comparables Rent Comparables FINANCIAL ANALYSIS 03 Rent Roll Summary Rent Roll Detail Rent Roll Summary Commercial Operating Statement Notes Pricing Detail Acquisition Financing MARKET OVERVIEW 04 Market Analysis Demographic Analysis 3 2731 SW 22 ST INVESTMENT OVERVIEW 4 2731 SW 22 ST OFFERING SUMMARY EXECUTIVE SUMMARY VITAL DATA CURRENT YEAR 1 Price $1,550,000 CAP Rate 5.19% 6.72% MAJOR EMPLOYERS Net Operating Down Payment 100% / $1,550,000 $80,381 $104,092 Income Net Cash Flow Loan Type All Cash 5.19% / $80,381 6.72% / $104,092 EMPLOYER # OF EMPLOYEES After Debt Service Total Rentable SF 4,241 Total Return 5.19% / $80,381 6.72% / $104,092 Baptist Health South Fla Inc 8,991 Price/SF $365.48 Cable Wrless Cmmunications Inc 6,156 Year Built 1949 HIG Surgery Centers LLC 5,100 Burger King Cpitl Holdings LLC 5,008 Royal Caribbean International 4,965 Ibt Group LLC 4,442 UNIT MIX Bursars Office 4,418 UNIT CURRENT AVG. AVG. MONTHLY POTENTIAL AVG. MONTHLY UNIT TYPE AVG. SF County Miami Dade AVI Dept 4,000 COUNT RENTS RENTS/SF INCOME RENTS RENTS/SF INCOME 1 Bedroom / 1 Miami Dade Transit 4,000 4 395 $900 $2.28 $3,600 $1,200 $3.04 $4,800 Bathroom Nephrology Division 4,000 SUITE CURRENT MONTHLY PRO FORMA TYPE TOTAL GLA CURRENT RENT RANGE COUNT INCOME MONTHLY INCOME Kimpton Epic Miami 3,724 3 Retail 2,661 $1,750 - $1,750 $5,250 $5,544 ROYAL CARIBBEAN 3,400 DEMOGRAPHICS 1-Miles 3-Miles 5-Miles 2018 Estimate Pop 40,488 278,175 507,504 2010 Census Pop 36,526 251,628 459,959 2018 Estimate HH 15,392 111,940 199,297 2010 Census HH 13,875 100,875 179,538 Median HH Income $38,694 $36,529 $37,981 Per Capita Income $23,180 $27,973 $27,999 Average HH Income $60,809 $69,237 $70,382 #5 2731 SW 22 ST OFFERING SUMMARY INVESTMENT OVERVIEW Marcus & Millichap is pleased to present for sale 2731 Coral Way, a 4,241 rentable-square foot mixed use retail / multifamily property. The property is centrally located in the heart of Miami, Florida. The subject property consist of three (3) ground floor retail bays and four (4) one Bedroom/one Bath second floor residential units. The property is 100 percent occupied with its retail portion consisting of service-oriented tenants, unaffected by e-commerce. Rents are currently about 25 percent under market, making this a prime value-add opportunity for an investor and/or Owner User. The subject property is centrally located near Coral Gables, Brickell, Coconut Grove, and Downtown Miami. The surrounding area consist of an array of major retailers and new developments. The adjacent property directly on the west was acquired by Terra Group. Terra Group has redeveloped the property into a brand-new construction self storage facility with ground floor retail. The ground floor retail of this specific property is asking $35.00 per-square-foot NNN. Coral Way has become an in demand residential and commercial corridor due to the growth in population within the past few years. INVESTMENT HIGHLIGHTS ▪ Excellent Visibility on Coral Way with Great Signage Potential ▪ Signalized Intersection with Traffic Counts Exceeding 70K Vehicles Per Day ▪ Month to Month Leases with 25% Below Market Rents ▪ Property has ran at 100% occupancy for the past 10 years ▪ Recently Completed 40 Year Recertification ▪ 1 Mile from Miracle Mile & Coral Gables 6 2731 SW 22 ST OFFERING SUMMARY PROPERTY SUMMARY THE OFFERING EXISTING FINANCING Price $1,550,000 Loan Type None Property Address 2731 SW 22 ST, Miami, FL Assessors Parcel Number 01-4109-039-0640 Zoning T5-O SITE DESCRIPTION Number of Units 7 Number of Buildings 1 Number of Stories 2 Year Built/Renovated 1949 Apartments - Rentable 1,580 Square Feet Retail - Gross Leaseable PROPOSED FINANCING 2,661 Area (GLA) First Trust Deed Total Rentable Square Feet 4,241 Loan Type All Cash Lot Size 5,250 Debt Coverage Ratio Type of Ownership Fee Simple Parking 7 Parking Ratio 1.65/1,000 SF #7 2731 SW 22 ST REGIONAL MAP 8 2731 SW 22 ST LOCAL MAP 9 2731 SW 22 ST AERIAL PHOTO Walgreens Mc. Donald’s Burger King SW 27th Avenue – Over 35K VPD 10 2731 SW 22 ST AERIAL PHOTO 11 2731 SW 22 ST PROPERTY PHOTO Subject Over 38K 38K VPD Over – CoralWay SW 27th Avenue – Over 35K VPD 12 2731 SW 22 ST MARKET COMPARABLES 13 2731 SW 22 ST SALES COMPARABLES MAP 2731 SW 22 ST (SUBJECT) 1 2931 Sw 22nd St 2 3542 SW 22nd St 3 545 SW 8th St 4 2340 Coral Way 5 1421 SW 8th St SALES COMPARABLES 14 PROPERTY2731 SW 22 NAMEST SALES COMPARABLES SALES COMPARABLES SALES COMPS AVG Average Price Per Square Foot $500.00 $450.00 Avg: $397 PSF $400.00 $365.48 PSF $350.00 $300.00 $250.00 $200.00 $150.00 $100.00 $50.00 $0.00 2731 2931 Sw 3542 SW 545 2340 1421 SW 22 ST 22nd St 22nd St SW 8th St Coral Way SW 8th St 15 PROPERTY2731 SW 22 NAMEST SALESMARKETING COMPARABLES TEAM SALES COMPARABLES 2931 SW 22ND ST 3542 SW 22ND ST 2731 SW 22 ST 2931 Sw 22nd St, Miami, FL, 33145 3542 SW 22nd St, Miami, FL, 33145 2731 SW 22 ST, Miami, FL, 33145 1 2 rentpropertyname1 rentpropertyname1 rentpropertyname1 Tenants Type Offering Price $1,550,000 4 1 Bdr 1 Bath Close of Escrow 5/24/2019 Close Of Escrow: 5/10/2019 Price/SF $365.48 3 Retail Days On Market 205 Sales Price: $2,100,000 CAP Rate 5.19% Sales Price $1,800,000 Rentable SF: 4,365 Year Built 1949 Rentable SF 4,550 Price/SF: $481.09 Total Apartment 4 Price/SF $395.60 CAP Rate: 5.52% Units Total Commercial 3 Year Built 1939 Year Built: 1975 Suites rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1 16 PROPERTY2731 SW 22 NAMEST SALESMARKETING COMPARABLES TEAM SALES COMPARABLES 545 SW 8TH ST 2340 CORAL WAY 1421 SW 8TH ST 545 SW 8th St, Miami, FL, 33130 2340 Coral Way, Coral Gables, FL, 33145 1421 SW 8th St, Miami, FL, 33135 3 4 5 rentpropertyname1 rentpropertyname1 rentpropertyname1 Close Of Escrow 1/29/2018 Close of Escrow 12/18/2018 Close Of Escrow 12/19/2017 Sales Price $1,500,000 Days On Market 198 Sales Price $1,700,000 Rentable SF 4,424 Sales Price $1,125,000 Rentable SF 5,011 Price/SF $339.06 Rentable SF 2,617 Price/SF $340.00 CAP Rate 7% Price/SF $429.88 Year Built 1968 Year Built 1937 Year Built 1952 rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1 17 2731 SW 22 ST 8 RENT COMPARABLES MAP 2731 SW 22 ST (SUBJECT) 1 Dog Hotel 2 3360 Coral Way 3 3202 Coral Way 4 3119 Coral Way 7 8 9 10 11 12 13 14 15 16 17 18 20 18 PROPERTY2731 SW 22 NAMEST RENT COMPARABLES AVERAGE RENT - COMMERCIAL Retail Retail Avg $40 $35 Avg: $32.22 PSF $30 $25 $23.68 PSF $20 $15 $10 $5 $0 2731 Dog Hotel 3360 3202 3119 SW 22 ST Coral Way Coral Way Coral Way 19 PROPERTY2731 SW 22 NAMEST RENTMARKETING COMPARABLES TEAM DOG HOTEL 3360 CORAL WAY 2731 SW 22 ST 3160 Coral Way, Coral Gables, FL, 33145 3360 Coral Way, Miami, FL, 33145 2731 SW 22 ST, Miami, FL, 33145 1 2 rentpropertyname1 rentpropertyname1 rentpropertyname1 Type Tenant Avg.