Miami, Florida – Information today is regarding the sale of a Retail Shopping Mall. A Net Lease Property sold for $18,000,000, in Miami, Florida. This Net Lease Property is the Northside Centre Shopping Mall. This can be said to be a very good deal for the Buyer of this Net Lease Investment in unincorporated Miami-Dade County.
The Investment Property, Northside Centre features prominent tenants including Presidente Supermarket, Payless Shoes, a Net Leased Citibank, Foot Locker, Rainbow Fashions, CitiTrends, Simply Fashions and Dots. One of our favorite Net Leased Property Tenants Walgreens is also at Northside Centre. Northside Centre was built in 1960 and had renovation in 2005. The net lease property was 80% leased at the time of this sale.
Buy Shopping Malls
Some research shows this Shopping Mall that totals 475,579 square feet of gross leasable area. Some reports show this net leased property as 540,000 square feet of leaseable space. Either way this net lease property, near downtown Miami was sold for far below replacement costs. Some of the “NNN” Triple Net Lease space is available between $6 – $10 per square foot at this Retail Shopping Mall. Absolute NNN Properties, with no landlord responsibilities whatsoever are available in South Florida.
Commercial Property Assets
This Net Lease Property transaction shows the strength of the Commercial Property asset, which is an irreplaceable piece of real estate with a long history of successful operations. The Retail Shopping Mall is one of the most visible in Florida. Also, The Net Lease Property was one of the first regional malls developed in South Florida and is currently undergoing a renovation. Some of the renovation activities planned or completed include façade renovation, lighting, landscaping and repaving/restriping of the parking areas.
Northside Centre, the net lease property is located at the northwest corner of N.W. 79th Street and N.W. 27th Avenue in Miami. When searching public records for Miami Investment Properties, they are essentially in Dade County, Florida. This Net Lease Property has an average daily traffic volume of over 76,000 cars per day and over 214,000 and 528,000 people within a (3) mile and (5) mile radius. This offers the net lease property a tremendous retailing environment. The net lease property address is 7900 Northwest 27th Avenue, Miami, Florida 33147.
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