Walgreens Investment Property For
23201 SW 112th Ave, Miami, FL 33176
NNN leased Walgreens with over 14 years remaining in Homestead.
Type:Retail
Property size:
14 SFPrice / SF:
$481,928/SF- Added:
- Dec 23, 2024
- Days on Market:
- 505
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 23201 SW 112th Ave
General Information
- Standard status
- Active
- Size
- 14 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2011
Listing agent Patrick Nutt License #No. 281618
Listing office SRS Real Estate Partners Tampa
Listing date Dec 23, 2024
Source Crexi
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 Real Estate Partners Tampa
HighLights
- Absolute NNN lease with zero landlord responsibilities, providing a management‑free, passive investment.
- Walgreens has over 14 years remaining on the initial lease term with 12 (5‑year) options to extend, demonstrating long‑term commitment.
- Located in a high‑traffic area at a signalized intersection with over 31,000 vehicles passing daily, and near Florida's Turnpike (110,000+ vehicles daily).
- Features 5% rental increases every 5 years throughout the initial term and option periods, hedging against inflation and growing NOI.
- Located directly across from a Publix Super Market and in a dense retail corridor with national/credit tenants, enhancing consumer traffic.
- Strong demographics with over 229,850 residents and 40,700 employees in a 5‑mile radius, and an affluent average household income of $101,806 within a 1‑mile radius.
Overview
This is an opportunity to acquire a fee-simple interest in a Walgreens investment property in Homestead, Florida. The tenant, Walgreens, has over 14 years remaining on their first lease term with 12 (5-year) options to extend. The lease features 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. There are approximately 8,700 Walgreens stores in the United States as of December 2024. The Walgreens is located near the signalized intersection of SW 232nd St. and SW 112th Ave., with average daily traffic of over 31,000 vehicles. The site benefits from nearby direct on/off ramp access to Florida’s Turnpike, which averages over 110,000 vehicles per day. The Walgreens is directly across from a Publix Super Market. The site is located in a dense retail corridor with nearby tenants including CVS Pharmacy, Aldi, Family Dollar, Dollar Tree, McDonald’s, AutoZone, Subway, and Pollo Tropical. The 5-mile trade area is supported by over 229,850 residents and 40,700 employees. Residents within a 1-mile radius have an average household income of $101,806.
Location Intelligence
Current Use by Public Records
TD Bank ATM
Atm
Similar Places Nearby
- Walgreens Pharmacy — 23201 SW 112th Ave, Homestead, FL 33032
- Fitnessology ( Herbalife Distribuitor) #luisafit24 — 10980 SW 236th Terrace, Homestead, FL 33032
- COVID-19 Drive-Thru Testing at Walgreens — 23201 SW 112th Ave, Homestead, FL 33032
- Charles Knapp — 23300 SW 112th Ave, Homestead, FL 330327173
- Shuvi LLC — 10833 SW 240 Ln, Homestead, FL 33032
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.371831
- Latitude
- 25.558205
Nearby Similar for Sale
FAQs
What type of property is this?
Drug store - NNN leased Walgreens with over 14 years remaining in Homestead.
Where is this drug store located?
The property is located at 23201 SW 112th Ave Miami, FL.
What is the asking price?
The asking price for this property is $6,747,000.
What are key features of this property?
This property features: Absolute NNN lease with zero landlord responsibilities, providing a management‑free, passive investment.; Walgreens has over 14 years remaining on the initial lease term with 12 (5‑year) options to extend, demonstrating long‑term commitment.; Located in a **high‑traffic area at a signalized intersection with over 31,000 vehicles passing daily**, and near Florida's Turnpike (110,000+ vehicles daily).
