Alex Zylberglait

|

MIAMI—A single-tenant building occupied by Starbucks is up forgrabs in Doral. The retail property hits themarket as the inventory of net-lease propertiesrented by investment-grade corporate guaranteed tenants continuesto decrease. The demand for investment properties in Doral, dubbedthe 'fastest growing big city' in Florida, has exploded in thisreal estate cycle fueled largely by foreigninvestors.

|

Marcus & Millichap real estate investmentbroker Alex Zylberglait is marketing the buildingat 7840 Northwest 25th Street. The price tag: $3.86 million.

|

“This is a great opportunity for an international buyer who islooking for an investment vehicle that doesn't require a hands-onapproach, since the tenant takes care of the property,” Zylberglaittells GlobeSt.com. “This is a highly-desired urban infill locationin the growing city of Doral.”

|

Starbucks just signed a 10-year extension, which starts in March2018 and has four five-year renewal options. The building, whichspans 1,816 rentable square feet, is an out parcel to the Shoppesat MICC, a 46,000-square-foot retail strip centeron Northwest 25th Street, which has traffic counts of over 30,000vehicles per day.

|

(The heat is on for commercial real estatedevelopers in Miami. Find out more.)

|

Commercial real estate industry watchers expectthe area to thrive with the construction of the Jackson HealthSystem's Jackson West Medical Center that will sit across thestreet. Construction of the medical complex began this year and itwill house an adult and pediatric emergency room, a diagnosticcenter, and outpatient clinics. The site can also support aninpatient hospital with 100 beds. The area provides easy access tothe Palmetto Expressway and Miami International Airport.

|

According to Florida International University's MetropolitanCenter, the rising city has become a hotspot for internationalbuyers, big businesses and real estate developers.The city's population rose by 26.1%—roughly 12,000 people—from 2010to 2016. The largest Hispanic group in Doral is residents ofVenezuelan origin, almost 32% of the Hispanic population, followedby those of Colombian origin, about 19%.

|

(These commercial real estate properties don'tlast long in Miami. Get all the details.)

|

In 2016, the city had about 58,000 residents and is expected togrow more as new high-end condos, town homes, single-family homesand apartments are currently under construction or in thepermitting process. The area is also poised to get new mixed-useprojects, warehouses, hotels, medical facilities, parks, schoolsand office space in the coming years.

|

Alex Zylberglait

|

MIAMI—A single-tenant building occupied by Starbucks is up forgrabs in Doral. The retail property hits themarket as the inventory of net-lease propertiesrented by investment-grade corporate guaranteed tenants continuesto decrease. The demand for investment properties in Doral, dubbedthe 'fastest growing big city' in Florida, has exploded in thisreal estate cycle fueled largely by foreigninvestors.

|

Marcus & Millichap real estate investmentbroker Alex Zylberglait is marketing the buildingat 7840 Northwest 25th Street. The price tag: $3.86 million.

|

“This is a great opportunity for an international buyer who islooking for an investment vehicle that doesn't require a hands-onapproach, since the tenant takes care of the property,” Zylberglaittells GlobeSt.com. “This is a highly-desired urban infill locationin the growing city of Doral.”

|

Starbucks just signed a 10-year extension, which starts in March2018 and has four five-year renewal options. The building, whichspans 1,816 rentable square feet, is an out parcel to the Shoppesat MICC, a 46,000-square-foot retail strip centeron Northwest 25th Street, which has traffic counts of over 30,000vehicles per day.

|

(The heat is on for commercial real estatedevelopers in Miami. Find out more.)

|

Commercial real estate industry watchers expectthe area to thrive with the construction of the Jackson HealthSystem's Jackson West Medical Center that will sit across thestreet. Construction of the medical complex began this year and itwill house an adult and pediatric emergency room, a diagnosticcenter, and outpatient clinics. The site can also support aninpatient hospital with 100 beds. The area provides easy access tothe Palmetto Expressway and Miami International Airport.

|

According to Florida International University's MetropolitanCenter, the rising city has become a hotspot for internationalbuyers, big businesses and real estate developers.The city's population rose by 26.1%—roughly 12,000 people—from 2010to 2016. The largest Hispanic group in Doral is residents ofVenezuelan origin, almost 32% of the Hispanic population, followedby those of Colombian origin, about 19%.

|

(These commercial real estate properties don'tlast long in Miami. Get all the details.)

|

In 2016, the city had about 58,000 residents and is expected togrow more as new high-end condos, town homes, single-family homesand apartments are currently under construction or in thepermitting process. The area is also poised to get new mixed-useprojects, warehouses, hotels, medical facilities, parks, schoolsand office space in the coming years.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.