State-of-the-Art Retail Space Listed at 9901 SW 24 St
FOR SALE
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$6,800,000
9901 Sw 24 St, Miami, FL 33165
3,340 SF
Square Feet
$2,036
PPSF
6.25%
CAP
Property Description
NOI
$425,000
Cap Rate
6.25%
- Corporate Guarantee From El Car Wash | Brand New, State-of-the-art Construction With El Car Wash’s Latest Prototype And A 120-ft Tunnel
- New 20-year Initial Lease Term | Approximately $10.3MM+ In Guaranteed Income
- 2% Annual Rent Increases Throughout The Initial Term And Options | Avg Cap Rate Of 7.59% Over The Base Lease Term (Assuming Purchase At List Price)
- Only Express Car Wash Built In The Miami Submarket Of Westchester In The Past 40 Years
- Excellent Access & Visibility From SW 24th St / Coral Way Which Sees 38,500 Vehicles Per Day / Left Turn- In
- Dense Area With Brand-driven Demographics | Within A 3-mile Radius Population Exceeds 210,000+ Residents With An Average HH Income Of ±$95,000 & Strong Daytime Population Of 218,000 | 84% Hispanic Neighborhood
- FIU (Florida International University) | Less Than 1.5 Miles From The Property | FIU Is The 2nd Largest College In Florida With Over 58,000 Students Enrolled.
- Qualifies for First Year Bonus Depreciation of 60% (Approx. $1,207,680)
- Limited Competition | Nearest Express Car Wash – 2.5 Miles
Property Details
Asset Type
Retail
Year Built
2024
Lot Size
34,151 SF
Neighborhood
Miami
Submarket
Miami
ZIP
33165
Listing Type
sale
30 years
10 years
Net Operating Income (NOI)
$674,263
Debt Service Coverage Ratio (DSCR)
1.74x
Cap Rate
9.92%
Cash Flow (Annual)
$287,437
Cash-on-Cash Return
16.91%
Monthly Debt Service
$32,235
Annual Debt Service
$386,826
View on Map
Address
9901 Sw 24 St
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Miami Retail Market Snapshot
Boundary boundary · Retail · Sale
No investors found in this market.
