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This luxury office building is located in an excellent location. The physical property consists of 19,452 sf of leasable space well situated on a large 1.149 acre lot. This property is currently 82.44% occupied with only three vacancies. It is currently grossing $251,439 annually netting $150,022. There are several existing tenants that have renewals upcoming in the next couple of years. This gives an investor a significant advantage to raise rents to market rates. Included in this offering is a pro­forma outlining new market leasing rates. These pro­forma figures project a gross operating income that will be $389,789.88 netting $288,373.88 a year. This NOI will yield an investor a 9.7% Capitalization rate.

Listed by John DeMarco, RE/MAX 5 Star Realty

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The multiple listing information is provided by Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2020 Miami Association 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. Data last updated on July 2, 2020

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