2660 199 Ter Miami Gardens, FL 33056

Property Details for 2660 199 Ter

Year built

2013

Lot size

0.95 lot acres

Property size

3,165 SF

Zone code

6500:COMMERCIAL,CLASSIF

Property type

Drive through restaurants

APN

34-2103-030-0020

APU

3421030300020

Description

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.

Location Insight

City

Miami Gardens

County

Miami-dade

State

Florida

Longitude

-80.2447

Latitude

25.9549

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments