High-street luxury retail in the Miami Design District
140 NE 40th Street · Miami · Miami-Dade County, FL 33137
Asking price
$9,200,000
Building
11,200 sqft
Lot
0.4 ac
Cap rate
5.1%
The pitch
Section 01 / 03Investment highlights
- Flagship Design District frontage
- Percentage-rent participation
- Walk Score of 95, valet adjacent
- Trophy irreplaceable location
Executive summary
An 11,200 SF street-front retail building in the Design District, the Southeast's premier luxury shopping destination. Leased to a flagship fashion tenant with percentage rent upside as district foot traffic continues to climb.
The asset
Section 02 / 03Pricing & Size
- Building Size
- 11,200 sqft
- Cap Rate
- 5.1 %
- Net Operating Income
- 469,200 $/yr
- Year Renovated
- 2017
- Building Class
- Class A
Building
- Construction Type
- Masonry
- Condition
- Excellent
- Stories
- 2
- Parking Spaces
- 12
Utilities
- Water
- Municipal
- Sewer
- Municipal
Retail Features
- Frontage
- 60 ft
- Anchored Center
- No
- Drive-thru
- No
- Daily Traffic Count
- 18,000 vehicles/day
- Corner Lot
- Yes
- End-cap Unit
- No
- Exclusive Signage Rights
- Yes
Location & Zoning
- Zoning
- C-3
- FEMA Flood Zone
- AE
- Opportunity Zone
- No
Location & area
Section 03 / 03Location
25.81320, -80.19250Area & market data
Third-party sourcesNeighborhood Demographics
- Median Household Income
- $54,355
- Median Age
- 40 yrs
- Population
- 442,241 people
- Households
- 188,065
Location Context
Walk Score
78 / 100
Transit Score
58 / 100
Risk Assessment
- Seismic Zone
- 0
- Seismic Risk Category
- Very Low
Market Context
- Median Sale Price (5mi)
- $6,100,000
- Median Lease Rate (5mi)
- 42 $/sqft/yr