8787 Biscayne Blvd Miami Shores, FL 33138-3341
- Automotive properties
- 2,006 SF
- 0.30 lot acres
Current Use by Public Records
- Jiffy Lube / Car Battery Store / Car Inspection Station
- Top-notch Public Insurance Claim Adjuster / Loss Adjuster
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,280,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,880,000
- 6.5%
- $2,690,000
- 7%
- $2,685,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,395,000
- Geo Method
- $3,230,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,025,000
- Retail
- $2,300,000
- Mixed-Use
- $2,330,000
- Hospitality
- $2,730,000
- Educational
- $3,060,000
- Residential Income
- $2,790,000
- Energy
- $2,425,000
- Income-Based Land
- $2,830,000
- Food Service
- $3,085,000
Location Insight
- Map
- Local Demand
- 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
