605 W 29th St - Freestanding FOR SALE


Hialeah, FL 33012
$1,196,000 USD
954-245-3492
605 W 29th St, Hialeah, FL for Sale
$1,196,000 USD
Freestanding - FOR SALE
1/6
null | 6% Cap Rate

605 W 29th St
Hialeah, FL 33012


HIGHLIGHTS

  • Brand New 10-Year NNN Lease
  • Zero Landlord Responsibilities
  • Corporately Signed Lease
  • 3% Annual Rent Increases in the Base Term & 3 (5-Year) Options
  • This Farm Store is ideally positioned along W 29th Street which offers exposure to approximately 15,400 vehicles per day (VPD)
  • Extremely Dense Trade Area with over 202,376 residents and 207,020 employees within a 3-mile area (Experian)

OVERVIEW

This offering features a brand-new 10-year NNN lease with zero landlord responsibilities, corporately guaranteed by Farm Stores. The lease includes 3% annual rent increases during the base term and in each of the three five-year renewal options. Farm Stores, founded in 1935, pioneered the drive-thru convenience store concept and continues to thrive as part of a growing $700-billion industry. Their uniquely designed locations serve bedroom communities and neighborhoods by delivering fresh products quickly and efficiently. As a recession-resistant, internet-proof, and pandemic-proof tenant, Farm Stores offers long-term stability and reliability for investors. This Farm Store is ideally positioned along W 29th Street, benefiting from excellent visibility with approximately 15,400 vehicles passing daily. It is located in a growing suburb of Hialeah, where the average household income within a five-mile radius is approximately $75,328, according to Experian. The property is surrounded by an extremely dense trade area, with over 202,376 residents and 207,020 employees within just three miles. Additionally, Hialeah is recognized as a high barrier-to-entry market, further enhancing the long-term value and stability of this location.

FOR SALE DETAILS

PRICE

$1,196,000 USD

PRICE/SF

$1,574 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,824 SF

ZONING

C-2

APN/PARCEL ID

04-3012-003-0610

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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Joseph ThomasMarcus & MillichapMore Info
954-245-3492

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.