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    2660 199 Ter Miami Gardens, FL 33056

    Sponsored
    For Sale
    $3,611,650

    High-traffic, NNN leased Sonic, Miami Gardens

    Property size:
    3,054 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a 3,054 square foot Sonic Drive-In located at 2660 NW 199th St, Miami Gardens, FL 33056. Built in 2014 and renovated in 2024, this single-story building boasts a 15-year absolute NNN lease with zero landlord responsibilities, providing a secure and passive income stream. The property features 30 parking spaces and sits on an oversized parcel exceeding 41,000 square feet, offering ample space and high visibility. Benefiting from a prime location across from Hard Rock Stadium, which attracts over two million visitors annually, and shadow-anchored by a Walmart Supercenter, this property enjoys exceptional traffic counts exceeding 72,000 vehicles daily. The surrounding area includes numerous major retailers, further enhancing its appeal. With a 100% occupancy rate, a Net Operating Income (NOI) of $186,000, and a 5.15% cap rate, this investment offers a compelling return. The tenant, a credit-rated Sonic franchisee with a corporate guarantee, ensures financial stability. The property's strong operational history, low rent-to-sales ratio of 8.35% (above the national average), and high population density within a three-mile radius (176,000) contribute to its significant investment potential. This is a rare opportunity to acquire a well-established, high-performing, and strategically located fast-food property in a thriving market. The asking price is $3,611,650.

    Property Features for 2660 199 Ter

    General Information

    Property type
    Restaurants
    Square Feet
    3,054 SF

    Building Details

    Year Built/Renovated
    2014/2024
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 15‑Year Absolute NNN Sale‑Leaseback with zero landlord responsibilities.
    • 2014 construction, 10 years operational history, low rent‑to‑sales ratio (8.35%).
    • High‑traffic location at 27th Ave & NW 199th St (72,000+ vehicles daily), across from Hard Rock Stadium.
    • Hard Rock Stadium draws over 2 million annual visitors.
    • Large 41,000+ SF lot with ample parking (9.8 spaces per 1,000 SF).
    • Shadow‑anchored by Walmart Supercenter, with nearby retailers including Aldi, Dunkin', 24 Hour Fitness, and fast‑food chains.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Gardens
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.244757274702
    Latitude
    25.955406892663

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    FAQs

    What type of property is this?
    Restaurant - High-traffic, NNN leased Sonic, Miami Gardens
    Where is this restaurant located?
    The property is located at 2660 199 Ter Miami Gardens, FL.
    What is the asking price?
    The asking price for this property is $3,611,650.
    What are key features of this property?
    This property features: 15-Year Absolute NNN Sale-Leaseback with zero landlord responsibilities.; 2014 construction, 10 years operational history, low rent-to-sales ratio (8.35%).; High-traffic location at 27th Ave & NW 199th St (72,000+ vehicles daily), across from Hard Rock Stadium.
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    2660 199 Ter Miami Gardens, FL 33056
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    Miami Gardens, FL 33056
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2660 199 Ter Miami Gardens, FL 33056
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