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Krispy Kreme - Miami FL 530 NE 167th St 3,576 SF Retail Building North Miami Beach, FL 33162 $6,594,000 ($1,843.96/SF) 4.70% Cap Rate
Investment Highlights
- 15 Years Remaining | Corporate Guaranteed | Options to Extend |Scheduled Rental Increases | Rent to Sales Under 5%
- Dense Retail Corridor | Strong National/Credit Tenant Presence | Nearby Schools & Jackson North Medical
- Strong Demographics in 5-mile Trade Area | Six-Figure Income
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Near Signalized, Hard Corner Intersection | Florida Turnpike | Interstate 95 | Excellent Visibility & Access
Executive Summary
• The tenant currently has 15 years remaining on their initial lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• This is the only Krispy Kreme in Miami; the tenant has been located in this area for over 30 years and recently signed a 20-year lease in 2019
• The location functions as a production center that distributes fresh doughnuts daily to surrounding locations like grocery stores, gas stations, and other retailers alike
• The lease features 10% rental increases every 5 years, then 8% increases at beginning of each option, growing NOI and hedging against inflation
• Rent to Sales Under 5% (Contact Agents)
• This is the only Krispy Kreme in Miami; the tenant has been located in this area for over 30 years and recently signed a 20-year lease in 2019
• The location functions as a production center that distributes fresh doughnuts daily to surrounding locations like grocery stores, gas stations, and other retailers alike
• The lease features 10% rental increases every 5 years, then 8% increases at beginning of each option, growing NOI and hedging against inflation
• Rent to Sales Under 5% (Contact Agents)
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,576 SF
Building Class
B
Year Built
2019
Price
$6,594,000
Price Per SF
$1,843.96
Cap Rate
4.70%
NOI
$309,900
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.58 AC
Parking
13 Spaces (3.64 Spaces per 1,000 SF Leased)
Frontage
152’ on Northeast 167th Street
Amenities
- Signage
- Drive Thru
Walk Score®
Very Walkable (86)
Nearby Major Retailers
Property Taxes
| Parcel Number | 30-2218-047-0010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,438,612 |
Property Taxes
Parcel Number
30-2218-047-0010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,438,612
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Krispy Kreme - Miami FL | 530 NE 167th St
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