8787 Biscayne Blvd Miami Shores, FL 33138-3341

Property Details for 8787 Biscayne Blvd

Year built

1986

Construction

CONCRETE

Lot size

0.30 lot acres

Property size

2,006 SF

Zone code

6200:COMMERCIAL,ARTERIAL

Property type

Automotive properties

APN

11-3206-028-0450

APU

1132060280450

Description

This exceptional investment opportunity presents the fee simple interest in a 1,999 square foot Jiffy Lube, located at 8787 Biscayne Blvd, Miami Shores, FL 33138. Situated on a 12,197 square foot lot, this property boasts a prime location on Biscayne Boulevard, experiencing daily traffic exceeding 40,000 vehicles. The property benefits from a corporate guarantee from Jiffy Lube International, Inc., a subsidiary of Royal Dutch Shell, ensuring financial stability. The current lease, an absolute NNN lease with zero landlord responsibilities, features a remaining term of 11.9 years, with two 10-year options to extend, providing long-term security and significant future value. Annual rent increases of 3.5% offer a hedge against inflation. The property's NOI is $139,259, resulting in a 5.00% cap rate and a price per square foot of $1,393.29. Built in 1986, this well-established business has operated at this location for over 36 years, demonstrating consistent performance and tenant longevity. The property's location within the upscale Miami Shores Village, a densely populated area with over 170,000 people within a 3-mile radius, ensures high visibility and strong demand. Excellent access to major roadways, including I-95, SR 924, and Biscayne Boulevard, further enhances its appeal. This is a rare opportunity to acquire a stable, high-performing asset with significant upside potential. The asking price is $2,785,180.

Location Insight

City

Miami Shores

County

Miami-dade

State

Florida

Longitude

-80.1847

Latitude

25.8558

CBSA code

33100

CBSA name

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

Property Tax & Assessments