6142 Miramar Pky
Miramar, FL 33023
Wells Plaza · Retail Property For Sale

John DeMarco with Re/Max 5 Star Realty is pleased to present the sale of 6142 Miramar Parkway, Miramar FL 33023. This neighborhood strip center consists of 3,369 SF of building sitting on a large 10,274 SF lot. The building was originally built in 1984 and fully renovated in 2008. It is in excellent overall condition and maintains good curb appeal. This center is anchored by a successful State Farm insurance office. Great tenant mix with long term legacy tenants. This property is 100% occupied. All tenants have less than 1 year on their leases. This property is grossing $4,346 amount per month, $51,048 per year, and netting $27,738 annually. This NOI provided a buyer with an actual 4% capitalization rate at the full asking price of $699,000. The projected capitalization rate is 12.04%, tenants rent can easily be increased after tenants leases expire which would raise the NOI to $84,192 yielding a 12.04% pro-forma capitalization rate. Included in this offering package are recent closed industrial sales that have sold on an average of $385 a square foot. This property is being offered at only $207.48 sf which is well below recent sales. Please remember to not disturb existing tenants, call John DeMarco for additional information and for a complete tour.