NNN Property Investment
12610 SW 120th St Miami, FL 33186
For Sale
$3,600,000
NNN property with renewed 20-year lease in Miami-Dade submarket.
Property Size4,280 SF
Lot Size0.20 Acres
Price / SF$841.12
Days on Market136
Property Features for 12610 SW 120th St
General Information
- Standard status
- Active
- Size
- 4,280 SF
- Lot size
- 0.20 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2006
Listing Agency:
Canvas Real Estate
(954) 646-5677
Listed By:
Ernesto Vega · License #3381075
(954) 646-5677
Source:
Elliman
Added: Mar 10
Changed: Jul 6
Last Checked: Jul 23 at 3:45AM
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 Canvas Real Estate
Investment Insights
Based on property information with market context.
This NNN property, constructed in 2004, offers an investment opportunity. The lease has been renewed for another 20 years. The building encompasses 4,280 square feet on an 8,540-square-foot lot. It is situated in a dense, growing Miami-Dade submarket with a population exceeding 200,000 within a three-mile radius. The property is a pad site located within the South Kendall Square shopping center, which is also anchored by Walgreens and Starbucks. The bank location has high annual deposits. Chase Bank has occupied the site since 2005.
Key Highlights
- NNN property investment with a newly renewed 20‑year lease.
- Located in a dense, growing Miami‑Dade submarket with a large population.
- Pad site within the South Kendall Square shopping center, anchored by Walgreens and Starbucks.
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 | $154.1k | $36.00 |
| − Vacancy | −$4.6k | −$1.08 |
| EGI | $149.5k | $34.92 |
| − OpEx | −$37.4k | −$8.73 |
| NOI | $112.1k | $26.19 |
4,280 SF · lease $36.00/SF/yr · vacancy 3.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.60M
$1.40M – $1.87M
NOI $112,093 @ 7.0% cap · market cap 3.11%
Second Best
Retail
$1.47M
$1.29M – $1.72M
NOI $103,037 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,604 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
SOUTH KENDALL SQUARE
Shopping Center & Mall
Chase Mortgage
Loan Service
Chase Bank
Bank
Chase ATM
Atm
Armor Self Storage ...
Storage Facility
FAQs
What type of property is this?
NNN property - NNN property with renewed 20-year lease in Miami-Dade submarket.
Where is this nnn property located?
The property is located at 12610 SW 120th St Miami, FL.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: NNN property investment with a newly renewed 20‑year lease.; Located in a dense, growing Miami‑Dade submarket with a large population.; Pad site within the South Kendall Square shopping center, anchored by Walgreens and Starbucks.
