7400 South River Dr Medley, FL 33166

Property Details for 7400 South River Dr

Year built

1986

Property size

8,210 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional value-add retail investment opportunity in Medley, Florida, presents a compelling case for investors seeking immediate upside potential. The property, located at 7400 NW South River Dr, comprises an 8,210-square-foot single-story building on a 28,074-square-foot lot, featuring 34 parking spaces (a 4.14:1,000 sq ft ratio). Currently boasting 100% occupancy with eight tenants, including three restaurants, the property benefits from a prime location with excellent visibility and accessibility, situated on a signalized intersection with high daily traffic counts exceeding 68,000 vehicles. Five of the eight tenants are on month-to-month leases, presenting a significant opportunity to increase rental income. The property's recent roof replacement (under warranty) and the inclusion of a 40-year recertification further enhance its appeal. The current Net Operating Income (NOI) is $114,992, with a pro-forma NOI projected at $151,365, reflecting a potential pro-forma cap rate of 5.50%. The asking price is $2,750,000, resulting in a current cap rate of 4.18% and a price per square foot of $335. The property is zoned M-1 and was built and renovated in 1986. This freestanding retail center offers 360-degree parking and is situated in a densely populated area, with over 20,000 people residing within a one-mile radius. This presents a strong value-add opportunity with significant potential for rental income growth.

Location Insight

City

Medley

County

Miami-Dade

State

Florida

Longitude

-80.3065

Latitude

25.8412