600 Payne Dr Miami Springs, FL 33166-4975
Property profile & analytics
600 Payne Dr, Miami Springs, FL 33166-4975
- Turn key restaurants
- 1,250 SF
- 0.06 lot acres
Property ID
US18-4107430
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Turn key restaurants
Property Details for 600 Payne Dr
- Year built
- 1950
- Construction
- CONCRETE
- Lot size
- 0.06 lot acres
- Zone code
- 6300:COMMERCIAL,RESTRICT
- Property type
- Turn key restaurants
- APN
- 05-3024-001-0830
- APU
- 530240010830
Description
This exceptional Miami Springs investment opportunity presents a single-tenant, 4,000 square foot NNN retail property located at 600 Payne Dr, Miami Springs, FL 33166. The property, built in 1950 and renovated in 2004, sits on a 7,877 square foot lot and includes 15 parking spaces. Currently 100% occupied by Woody's Tavern Grill, the property boasts a newly signed 10-year NNN lease with a 5-year option, featuring 4% annual rent increases. The lease structure transitions to a true NNN lease from year two, significantly reducing landlord responsibilities for operating expenses, taxes, and insurance. The asking price is $1,250,000, representing a compelling $312.50 per square foot and an 8.92% cap rate based on a current NOI of $111,500. The building includes outdoor dining space, adding to its appeal. This is a turnkey investment with a well-established tenant and a secure long-term lease, making it an ideal addition to any portfolio. The property consists of three contiguous parcels. The first year of the lease operates under a gross rent model.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $995,000
- ML approach
- $935,000
-
Alternative Use
- Use
- Estimation
- RESTAURANT
- $935,000 Current use
- COMMERCIAL (GENERAL)
- $840,000 Change: -10% Conversion: Easy
- AUTO REPAIR, GARAGE
- $790,000 Change: -16% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Miami Springs
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.3051
- Latitude
- 25.8188
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$7,940
$114,750
$245,250
$360,000
-
$114,750
$245,250
$360,000
