4298 Palm Ave Hialeah, FL 33012
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Prime Hialeah location, strong tenant.
Property size:
5,991 SFProperty Features for 4298 Palm Ave
General Information
- Property type
- Medical offices
- Square Feet
- 5,991 SF
- Lot Size
- 18,731 SF
Building Details
- Year Built
- 2023
- Buildings
- 1
- Stories
- 1
- Units
- 1
Listing Agency: Marcus & Millichap | Miami Listing Agent: Gabriel Britti
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 5,991 square foot, single-tenant medical office building in Hialeah, Florida. The property, built in 2023, is situated on a 0.43-acre lot at 4298 Palm Ave, a major thoroughfare with high visibility. It's currently 100% occupied by Kidney Spa, LLC, under a 15-year absolute NNN lease (commencing April 1, 2023, and expiring March 31, 2038) with a corporate guarantee. The lease includes 2% annual rent bumps and three 5-year renewal options, ensuring consistent income growth. The property boasts a strong NOI of $442,796 and a 6.35% cap rate, making it an attractive investment. The building features 16 patient stations, a private station, centralized nursing station, exam rooms, doctor's office, staff lounge, waiting room, and reception area. The surrounding area is densely populated, with numerous apartment complexes, colleges (including Miami Dade College and Florida National University), and hospitals (including Hialeah Hospital and Larkin Community Hospital) nearby. This prime location in a high-growth market, combined with a strong tenant and favorable lease terms, presents a compelling investment opportunity with significant long-term potential. The asking price is $6,973,165, representing a price per square foot of $1,163.94. The property is offered fee simple.
Property Profile
Location Intelligence
Current Use by Public Records
Medical offices
Location Insight
- Map
- Local Demand
- City
- Hialeah
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.2830572
- Latitude
- 25.8611073
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FAQs
What type of property is this?
Medical office - Prime Hialeah location, strong tenant.
Where is this medical office located?
The property is located at 4298 Palm Ave Hialeah, FL.
What is the asking price?
The asking price for this property is $6,973,165.
What are key features of this property?
This property features: Kidney Spa in Hialeah, FL, a densely populated Miami submarket with over 28,000 residents within one mile and 469,000 within five miles.; New 15-year lease expiring March 31, 2038, with 2% annual rent increases and three 5-year options.; Absolute NNN lease; zero landlord responsibilities.
