Selling lease assignment for the retail on 99-year land lease through 2044 at below-market rent rate
third extension on lease june 1, 2020, to may 31, 2025
- west building (8,310 sf) rent rate $12,000/month plus sales tax ($17. 33/sf nnn)
- east building (5,000 sf) rent rate $9,000/month plus sales tax ($21. 60/sf nnn)
- total rent per year $252,000 plus sales tax or blended rent rate $18. 93/sf nnn
landmark true value hardware store with benjamin moore paint store-operated since 1947
serves mid-beach residential market and miami beach hotels and businesses (established customer base)
rear parking public lot and loading areas, off-street parking on 100 feet of store frontage
the building can be demised into two separate buildings: east building 5,000 sf and west building 8,310 sf
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