4298 Palm Ave Hialeah, FL 33012
- Office Properties & Spaces
- 5,991 SF
- 0.43 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 4298 Palm Ave
- Year built
- 2023
- Lot size
- 0.43 lot acres
- Property size
- 5,991 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
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.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hialeah
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.2831
- Latitude
- 25.8611
