713 W Palm Dr - Schools FOR SALE


Florida City, FL 33034
$13,800,000 USD
561-232-7899
713 W Palm Dr, Florida City, FL for Sale
$13,800,000 USD
Schools - FOR SALE
1/36
null | Request Cap Rate

713 W Palm Dr
Florida City, FL 33034


HIGHLIGHTS

  • Absolute NNN Lease — Tenant pays all taxes, insurance, maintenance, and capital expenditures. Zero landlord obligations. Pure passive income.
  • Government Backed Credit — Revenue anchored by Florida's Step Up For Students scholarship program, generating an estimated $3.1M to $3.5M annually.
  • Built-In Value Add — The 2030 renewal reset to Fair Market Value delivers an NOI spike regardless of existing tenant renewal or new operator.
  • Shovel Ready Expansion — Contiguous 1.47 acre parcel with a pre entitled path to doubling campus capacity to 60,000+ SF.
  • Supply Constrained Market — Purpose built K12 space in Miami Dade operates at sub 2% vacancy. Replacement cost exceeds $450/SF.
  • Various Deal Structures Offered — All Reasonable Offers and Terms Considered. Brokers Protected.

OVERVIEW

GoCommercial presents the exclusive opportunity to acquire Florida City Educational Campus, a landmark institutional educational asset at 713 West Palm Drive, Florida City, Florida. The offering consists of a fully stabilized 30,421 SF purpose-built K12 educational facility coupled with a contiguous 1.47 acre expansion parcel with approved engineered plans for a mirroring facility, providing a path to doubling total campus capacity to 60,000+ SF on a unified 2.94 acre site. PARCEL STRUCTURE The offering is comprised of two separate tax folios. Parcel 1 (Folio 16-7825-000-0390) is the income producing 30,421 SF school building, a three story purpose built facility constructed with steel-reinforced concrete floors and walls, hurricane impact glass and doors meeting Miami-Dade HVHZ standards, all steel joists and trusses, and a concrete tile roof over corrugated steel decking. Parcel 2 (Folio 16-7825-000-0400) is the contiguous 1.47-acre expansion site with approved engineered plans for an identical mirroring 30,421 SF facility. The school building may be acquired independently for $10.9MM or together with the expansion parcel as a combined campus assemblage. The expansion parcel is not available for separate purchase. LEASE & INCOME The property is subject to an Absolute Triple Net (NNN) lease with Advanced Achievers Academy, a Florida state-licensed K12 private school in continuous occupancy since July 1, 2015. The NNN structure provides a fully passive income stream with zero landlord obligations. Current base rent is $47,503.88 per month ($570,046.53 annually), escalating annually by the greater of 3% or CPI. The initial 15-year term expires June 30, 2030, with one 15-year renewal option at market rate, providing significant upside given current rents of $18.90/SF versus the $30/SF market rate. The tenant has expressed interest in early execution of the renewal option. The lease is personally guaranteed by principals of the tenant entity. TENANT PROFILE Advanced Achievers Academy (AAA) is a premier Kindergarten through 8th Grade provider serving South Dade since 2015. Confirmed enrollment of 350 to 365 students places AAA in the top 20% of Florida private schools for student body size and diversity. Published tuition for 2025 to 2026 is $11,900 annually plus $750 in registration fees per student. The Academy has maintained full enrollment throughout its decade of occupancy with no instances of default or missed rental obligations. GOVERNMENT BACKED REVENUE A defining credit differentiator is AAA's participation in Florida's universal school choice framework. The school is a primary recipient of Step Up For Students scholarship funds including the Family Empowerment Scholarship (FES EO and FES UA), Gardiner Scholarship, McKay Scholarship, and Florida Tax Credit Scholarship. The State of Florida issues direct, non-cyclical payments to the school on behalf of enrolled students, creating a government-supported revenue stream independent of household economic conditions. Based on confirmed enrollment and average blended scholarship awards of $8,500 to $9,000 per student, the school generates an estimated $3.1M to $3.5M in annual government-sourced gross revenue, representing approximately 5.5x coverage of the current annual base rent. 2030 MARKET RATE RESET Current rents of approximately $18.90/SF are well below the prevailing market rate of $28 to $35/SF for purpose built NNN educational space in Southern Miami Dade County. The contractual reset to Fair Market Value at the 2030 renewal represents a substantial equity kicker for the buyer regardless of whether the current tenant executes the renewal or a competing operator takes over the campus. Miami-Dade's purpose-built educational space operates at sub 2% vacancy, and national charter networks actively seek turnkey campuses to bypass the 24 to 36-month entitlement cycle. Current ownership receives consistent inbound inquiries from competing schools seeking this location. EXPANSION OPPORTUNITY Parcel 2 carries approved engineered plans for a mirroring 30,421 SF facility. Site geometry, drainage, and parking ratios are already established. AAA has expressed active expansion interest and currently pays all property taxes on the expansion parcel for overflow use. A buyer may negotiate a Phase II pre-lease with AAA during due diligence, eliminating lease-up risk and unlocking institutional construction financing. Phase II may alternatively be developed as an independent, autonomous, and complementary educational facility, creating a two-tenant educational hub on a single campus. MARKET & DEMOGRAPHICS Florida City sits at the heart of Miami-Dade County's most explosive growth corridor. The 1-mile radius surged 17.18% in population from 2020 to 2025 and is projected to grow an additional 9.51% through 2030, approximately nine times the national average. Growth is driven by the adjacent 2.4 million SF Amazon South Dade Distribution Center, Homestead Air Reserve Base (7,200 personnel), and the Florida Keys gateway economy. Median household income within 1 mile is $51,659. The property is located less than 1 mile from Route 1 and the Ronald Reagan Turnpike. BARRIERS TO ENTRY Developing a new K12 facility in Miami-Dade County requires 24 to 36 months of zoning, concurrency, and municipal approvals across multiple independent agencies. Institutional use zoning in this corridor is scarce. Construction costs for purpose built educational facilities exceed $450 to $500/SF, placing replacement cost at $13.7M to $15.2M, well above the current acquisition basis of approximately $358/SF. The property previously qualified for and carried a bond-backed CMBS loan, validating its institutional quality, and will be delivered free and clear. Please do not disturb tenant. All tours must be scheduled through the listing broker. Buyer reps welcome.

FOR SALE DETAILS

PRICE

$13,800,000 USD

PRICE/SF

$460 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Florida City Educational Campus

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Schools

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

-

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

51

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

C-1

APN/PARCEL ID

16-7825-000-0390,16-7825-000-0400

ASK ABOUT THIS PROPERTY

Brad KuskinGoCommercialMore Info
561-232-7899

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Brad KuskinGoCommercialMore Info
561-232-7899

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