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Available For Sale - Retail

30,000 SF | Show Pricing $

AVAILABILITY DETAILS

Size
30,000 SF
Price/SF
Show Pricing $
Listing ID
SA439266
Notes
Marcus & Millichap is pleased to present the opportunity to acquire a new 30,000-square-foot, multi-tenant retail and medical office property in Hialeah, Florida. This plaza is 100 percent occupied by Dollar Tree and InnovaCare Health. This is a brand-new location, with Dollar Tree now open and InnovaCare opening in early 2021. InnovaCare will be investing approximately $5 million in interior buildout and equipment. Dollar Tree and InnovaCare Health are part of a new, mixed-use development which also includes a Wawa Gas Station and a 260-unit apartment building, currently under construction.



Dollar Tree consists of 10,000-square-feet of retail space. This corporate Dollar Tree has a new 10-year triple net lease with full term remaining. The lease offers three, five-year renewal options. InnovaCare Health has 20,000-square-feet of medical office space, with 4,600 square feet on the first floor and 15,400 square feet on the second floor. This tenant has a new seven-year, triple net lease with two, seven-year renewal options.



The area has very strong demographics and traffic counts. The population in the immediate area is over 210,000 within a three-mile radius, and 410,000 within a five-mile radius. The entire mixed-use development is positioned at the signalized intersection of West 16th Avenue, West 29th Street and Okeechobee Road with a combined daily traffic count of more than 87,000 vehicles. The property is within close proximity to Palmetto Expressway, a major roadway in Miami-Dade County with more than 275,000 vehicles daily.



The subject property is one mile from Westland Mall and surrounding national retailers including Walmart Supercenter, Home Depot, Staples, Lowe’s, Target, Best Buy, LA Fitness, BJ’s Wholesale, Dollar General, T-Mobile, Tire Kingdom, Applebee’s, Arby’s, McDonald’s, Burger King and many more. Dollar Tree and InnovaCare is 14 miles from Miami Beach, located in Hialeah, Florida which is part of the Miami MSA with a population over 2.7 million. Miami-Dade County is the most populous county in Florida. Miami welcomes over 14 million tourists per year with over 10 percent of the workforce in the tourism industry.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Barry Wolfe, Wolfe-Lipsky Retail Group of Marcus & Millichap