Miami Walgreens NNN Investment
11190 SW 88th St Miami, FL
11190 SW 88th St, Miami, FL, 00000
Contact for pricing
For Sale
Contact for pricing
Absolute NNN leased Walgreens in Miami with a new 15-year lease.
Property Size11,176 SF
Lot Size0.74 Acres
Price / SF$536.86
Days on Market599
Property Features for 11190 SW 88th St
General Information
- Standard status
- Active
- Size
- 11,176 SF
- Lot size
- 0.74 Acres
- Property subtype
- RETAIL
Listing agency
SRS Industrial - Newport Beach
(949) 698-1116
Listed by
Matthew Mousavi · License #CA 01732226
(949) 698-1116
Source
Moodyscre
Added: Nov 29, 2024 Updated: Jul 6 at 9:30AM Checked: Jul 21 at 6:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Industrial - Newport Beach
Investment Insights
Based on property information with market context.
This property is an absolute NNN leased Walgreens investment property located in Miami, Florida. The tenant, Walgreens, Inc., recently signed a new 15-year lease with four 5-year options to extend. The lease includes 5% rental increases every 5 years throughout the initial term and at the beginning of each option period. The lease is absolute NNN with zero landlord responsibilities. Walgreens operates nearly 9,000 retail locations across the U.S. and Puerto Rico, serving nearly 9 million customers and patients daily. The property contains 11,176 square feet.
Key Highlights
- Absolute NNN Lease: Enjoy a completely passive, management‑free investment.
- Brand New 15‑Year Lease: Provides long‑term, stable income.
- Rental Increases: Features 5% rental increases every 5 years.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $714.8k | $63.96 |
| − Vacancy | −$10.7k | −$0.96 |
| EGI | $704.1k | $63.00 |
| − OpEx | −$176.0k | −$15.75 |
| NOI | $528.1k | $47.25 |
11,176 SF · lease $63.96/SF/yr · vacancy 1.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$7.54M
$6.60M – $8.80M
NOI $528,071 @ 7.0% cap · market cap 8.80%
Second Best
Retail
$5.21M
$4.56M – $6.08M
NOI $364,625 @ 7.0% cap · market cap 6.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walgreens Pharmacy
Pharmacy
Octavio R. Gonzalez, ...
Pharmacy
FedEx OnSite
Postal Service
SHERWOOD WEST ZC ...
Condominium Complex
TD Bank ATM
Atm
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 11190 SW 88th St, Miami, FL 33176
- Octavio R. Gonzalez, PharmD — 11190 SW 88th St, Miami, FL 33176
- Fast Rx Pharmacy — 11630 N Kendall Dr, Miami, FL 33176
- Erlinda Solares — 11190 SW 88th St, Miami, FL 331760901
- Nutripro — 11914 SW 88th St #2010, Miami, FL 33186
FAQs
What type of property is this?
Drug store - Absolute NNN leased Walgreens in Miami with a new 15-year lease.
Where is this drug store located?
The property is located at 11190 SW 88th St Miami, FL.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Absolute NNN Lease: Enjoy a completely passive, management‑free investment.; Brand New 15‑Year Lease: Provides long‑term, stable income.; Rental Increases: Features 5% rental increases every 5 years.
