600 Payne Dr, Miami Springs FL 33166

Description

The subject property includes three contiguous parcels totaling 7,877 SF and a 4,000 SF building, which encompasses outdoor dining. There are 15 parking spaces available. The offering is a single-tenant NNN retail occupied by Woody’s Tavern Grill, which just signed a new 10-year NNN lease with (1) 5-Year Option with 4% annual increases. The first year of the lease operates under a gross rent model, transitioning to a NNN lease from Year 2 onwards, yielding an 8% cap rate. This shift significantly reduces landlord responsibilities for operating expenses, taxes, and insurance. This property offers a robust investment opportunity with a strong tenant in place, a renovated structure.

This retail home located at 600 Payne Dr, Miami Springs FL 33166 is currently for sale and has been available on Brickellsold for 154 days. This property is listed at $1M. It has N/A beds, N/A bathrooms, and is N/A square feet. It was built in 1950. 600 Payne Dr, Miami Springs FL 33166 is in Miami Springs neighborhood Miami-Dade County.