600 Payne Dr

$1,550,000

600 Payne Dr Miami Springs

1

Home61's Closings in

Miami Springs

Amenities

Air Conditioning
N/A
Central Heat
N/A
Refrigerator
N/A
Dishwasher
N/A
Washer
N/A
Walk-In Closets
N/A
Water View
N/A
Pool
N/A
Fence
N/A
Garage
N/A
Barbecue
N/A
Impact Windows
N/A

Key features

Living area
N/A
Lot size
N/A
Tax
$ 7,940
$ /sqft
-
Tenant Occupied
No
Parking Space
0
Building
-
On market
24 days
$ /sqft
-
Type
other
Year Built
1950
Unit
-
Zip Code
33166
Ref./MLS ID
A11595231

DESCRIPTION

The subject property includes three contiguous parcels totaling 7,877 sf and a 4,000 sf building, which encompasses outdoor dining.  There are 15 parking spaces available.  The offering is a single-tenant nnn retail occupied by woody’s tavern grill, which just signed a new 10-year nnn lease with (1) 5-year option with 4% annual increases.  The first year of the lease operates under a gross rent model, transitioning to a nnn lease from year 2 onwards, yielding an 8% cap rate.  This shift significantly reduces landlord responsibilities for operating expenses, taxes, and insurance.  This property offers a robust investment opportunity with a strong tenant in place, a renovated structure.  


Data is provided by Miami Board of Realtors.

Public transportation

Hammond Dr & Linwood Dr
36
3 mins
Hammond Dr & WestwaRd Dr
36
4 mins
Hammond Dr & Corydon Dr
36
4 mins
WestwaRd Dr & Hammond Dr
36
4 mins

Nearby School In Miami Springs

Data Provided by greatschools.org

RATING
Name
GRADE
DISTANCE
10
Springview Elementary School
PK-5
1 miles
10
Isaac: Integrated Science And Asian Culture Academy
2
1.2 miles
4
Irving & Beatrice Peskoe K-8 Center
PK-8
1.2 miles
5
Miami Springs Senior High School
9-12
1 miles
Listed on May 29, 2024 by Rayza Perez from Dwntwn Realty Advisors LLC, this other is for sale. other for sale in Miami Springs listed at $1,550,000, Reference A11595231

The multiple listing information is provided by Miami Board of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2024 Miami Board of Realtors®. All Rights Reserved.
The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.