11190 SW 88Th St, Miami, FL 33176

This exceptional investment opportunity presents a fee-simple ownership of a Walgreens located at 11190 SW 88th St, Miami, FL 33176. The 11,176 square foot property, built in 2005, sits on a 0.74-acre lot and boasts 40 parking spaces. Currently operating under a 100% occupancy, absolute NNN lease with Walgreens, the property offers a substantial NOI of $360,000, translating to a 5.00% cap rate. The lease, with a corporate guarantee, includes four 5-year renewal options and features 5% rent bumps every five years, providing excellent inflation protection. The property benefits from a prime location at a signalized intersection with high visibility and traffic volume (91,800 VPD), near the Florida Turnpike (126,000 VPD). Its proximity to major shopping centers (Kendallgate and Kendall Village), Miami Dade College Kendall Campus (66,500 students), and numerous national retailers ensures strong consumer traffic and a robust trade area. The 5-mile radius boasts over 442,000 residents and 197,000 employees, with a high average household income of $123,789 within a 3-mile radius. The property is zoned BU-1A. Asking price: $7,200,000.