NNN Bank Pad
For Sale
$3,600,000
12610 SW 120th St, Miami, FL 33186
Freestanding bank pad within South Kendall Square, anchored by Walgreens and Starbucks, built in 2004.
Property Size4,465 SF
Lot Size0.20 Acres
Price / SF$841.12
Days on Market814
Property Features for 12610 SW 120th St
General Information
Standard status
Active
Size
4,465 SF
Lot size
0.20 Acres
Property subtype
Special Purpose
Lease Type
NNN
Taxes and HOA fees
Annual Taxes
$19,996
Building Details
Building Size
4,465 SF
Year Built
2006
Tenancy
Single
Listing Agency:
Canvas Real Estate
Listed By:
Ernesto Bistuer · License #3381075
(786) 532-6883
Source:
Relinkre
Added: Aug 14, 2024
Changed: Oct 14
Last Checked: Nov 3 at 1:11PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale Chase NNN lease bank property is a pad site within the South Kendall Square shopping center. The building was built in 2004 and comprises 4,280 square feet.
The shopping center is anchored by Walgreens and Starbucks. The property is located at 12610 SW 120th St in Miami, Florida.
Chase has occupied the site since 2005.
The shopping center is anchored by Walgreens and Starbucks. The property is located at 12610 SW 120th St in Miami, Florida.
Chase has occupied the site since 2005.
Key Highlights
- Freestanding Chase NNN lease bank pad in South Kendall Square shopping center
- Built in 2004; approximately 4,280 SF on an 8,540 SF lot
- Chase Bank has occupied the site since 2005
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,093
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,241,860
$2.2M
Cap Rate 7%
$1,601,329
$1.6M
Cap Rate 9%
$1,245,478
$1.2M
Market Conditions
NOI Build-Up for 4,280 SF
Gross rent
$154.1K $36.00/SF
− Vacancy
−$4.6K −$1.08/SF
EGI
$149.5K $34.92/SF
− OpEx
−$37.4K −$8.73/SF
NOI
$112.1K $26.19/SF
Area
ZIP 33186
Vacancy
3.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,241,860
Cap Rate 7%
$1,601,329
Cap Rate 9%
$1,245,478
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,871
Businesses Nearby
Explore this area
Business Placement
Demographics for 33186, FL
69,866
Population
24,397
Households
2.9
Avg Household Size
42
Median Age
36%
College-Educated
91%
High-School Grad
12.4 sq mi
ZIP Area
5,634
Density / Sq Mi
$86,481
Median Household Income
$46,755
Median Earnings
$2,021
Median Rent
$422,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Miami, FL
Frequently Asked Questions
What type of property is this?
Bank - Freestanding bank pad within South Kendall Square, anchored by Walgreens and Starbucks, built in 2004.
Where is this bank 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: Freestanding Chase NNN lease bank pad in South Kendall Square shopping center; Built in 2004; approximately 4,280 SF on an 8,540 SF lot; Chase Bank has occupied the site since 2005
