7500-7514 ne 6th ct, miami, fl 33138€¦ · it is roughly 1.5 miles from the miami shores country...
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FOR SALE 7500-7514 NE 6th Ct, Miami, FL 33138
16 (STUDIO & 1/1) UNITS BETWEEN FOUR, TWO-STORY BUILDINGS, TOTALING 8,517 SF GLA, ON 0.31 ACRES IN UPPER EAST SIDE
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The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from ONE Commercial Real Estate and should not be made available to any other person or entity without the written consent of ONE Commercial Real Estate. This offering memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. ONE Commercial Real Estate has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, ONE Commercial Real Estate has not verified, and will not verify, any of the information contained herein, nor has ONE Commercial Real Estate conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
NON-ENDORSEMENT NOTICEONE Commercial Real Estate is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of ONE Commercial Real Estate, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of ONE Commercial Real Estate, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
NET LEASED DISCLAIMERONE Commercial Real Estate hereby advises all prospective purchasers of Net Leased property as follows:
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, ONE Commercial Real Estate has not and will not verify any of this information, nor has ONE Commercial Real Estate conducted any investigation regarding these matters. ONE Commercial Real Estate
makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.
As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. ONE Commercial Real Estate expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.
Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.
Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.
Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.
By accepting this Marketing Brochure you agree to release ONE Commercial Real Estate Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.
ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
CONFIDENTIALITY AGREEMENT
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EXECUTIVE SUMMARY.................................................................4FINANCIALS..................................................................................5AERIAL MAP.................................................................................6PROPERTY PHOTOS......................................................................8AERIALS.....................................................................................11AREA OVERVIEW.........................................................................12WHY ONE COMMERCIAL?........................................................... 13
ROBERT BURSTEINCOMMERCIAL ADVISOR
ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
TABLE OF CONTENT
4ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
ONE Commercial Real Estate is pleased to present 7500-7514 NE 6th Ct, a collection of four, two-story buildings, comprised of 16 units of varying types. Eight units are studio apartments while eight are 1BD / 1BR units. The gated property boasts newly renovated kitchens with top-of-the-line appliances and units fully-furnished with contemporary Modani furniture.
The 0.31 acre property is located less than two miles from the entrance to I-95 and is within walking distance of the picturesque Biscayne Bay and Little River waterways. It is roughly 1.5 miles from the Miami Shores Country Club.
7500-7514 NE 6th Ct is being sold either individually or as a three-property-portfolio consisting of the following properties:
9220 Biscayne Blvd, Miami, FL 33138
2105-2107 SW 7th St, Miami, FL 33135
EXECUTIVE OVERVIEWAddress: 7500-7514 NE 6th Ct, FL 33138
APN: 01-3207-018-0610
County: Miami-Dade
Opportunity Zone: No
Land Use: Medium-Density Residential
Zoning: T4-R (36 du/ac)
Property Class: A-
Lot Size: 13,500 SF (0.310 AC)
Gross Leasable Area: 8,517 SF
Buildings: 4
Unit Count: 16
Year Built: 1938
2019 Assessed Value: $818,431
INVESTMENT OVERVIEW
Price: $3,600,000
# Of Units: 16
# Of Buildings: 4
Price/Unit: $225,000
CAP Rate: 5.13%
INVESTMENT HIGHLIGHTS
• Fully-furnished with Modani furniture
• (10) private, off-street parking spaces
• Gated property for privacy and security
• Newly renovated kitchens
PROPERTY HIGHLIGHTS
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
EXECUTIVE SUMMARY
5ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
FINANCIALS
INCOME Current Ops ProForma Ops
UNIT Beds Monthly Yearly Monthly Yearly
Type 1 (TYP) Studio $1,275 $15,300 $1,313 $15,759
Type 1 (TYP) Studio $1,275 $15,300 $1,313 $15,759
Type 1 (TYP) Studio $1,275 $15,300 $1,313 $15,759
Type 1 (TYP) Studio $1,275 $15,300 $1,313 $15,759
Type 1 (TYP) Studio $1,275 $15,300 $1,313 $15,759
Type 1 (TYP) Studio $1,275 $15,300 $1,313 $15,759
Type 1 (TYP) Studio $1,275 $15,300 $1,313 $15,759
Type 1 (TYP) Studio $1,275 $15,300 $1,313 $15,759
Type 2 (TYP) 1 $1,600 $19,200 $1,648 $19,776
Type 2 (TYP) 1 $1,600 $19,200 $1,648 $19,776
Type 2 (TYP) 1 $1,600 $19,200 $1,648 $19,776
Type 2 (TYP) 1 $1,600 $19,200 $1,648 $19,776
Type 2 (TYP) 1 $1,600 $19,200 $1,648 $19,776
Type 2 (TYP) 1 $1,600 $19,200 $1,648 $19,776
Type 2 (TYP) 1 $1,600 $19,200 $1,648 $19,776
Type 2 (TYP) 1 $1,600 $19,200 $1,648 $19,776
Effective Gross Income
$23,000 $276,000 $23,690 $284,280
UNIT COUNT 16
PURCHASE PRICE $3,600,000
$225,000 per door
EXPENSES Current Ops ProForma Ops
Item Monthly Yearly Monthly Yearly
Property Tax $1,923 $23,081 $4,800 $57,600
Insurance $1,004 $12,050 $1,333 $16,000
Utilities $874 $10,488 $1,433 $17,200
Landscape $120 $1,440 $120 $1,440
Pest Control $75 $900 $75 $900
Maintenance & Repairs $542 $6,500 $542 $6,500
Total Expenses $4,538 $54,459 $8,303 $99,640
SUMMARY Current Ops ProForma Ops
Effective Gross Income $23,000 $276,000 $23,690 $284,280
Total Expenses $4,538 $54,459 $8,303 $99,640
NET OPERATING INCOME
$18,462 $221,541 $15,387 $184,640
Operating Cap Rate N/A N/A 5.13% 5.13%
OpEx Ratio 19.7% 19.7% 35.0% 35.0%
6ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6TH CT
BISCAYNE BISCAYNE BAYBAY
NE 79TH STREETNE 79TH STREET
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7500-7514 NE 6th CtMIAMI, FLORIDA 33138
AERIAL MAP
7ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
PROPERTY PHOTOS
120 FEET120 FEET
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8ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
PROPERTY PHOTOS
9ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
PROPERTY PHOTOS
10ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
PROPERTY PHOTOS
11ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
AERIALS
LOOKING EAST
LOOKING NORTH
LOOKING WEST
LOOKING SOUTH
12ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
POPULATION 1 MILE 2 MILES 3 MILES
Population 25,077 169,216 513,884 (current)
Population 26,134 176,232 533,876 (5 yr forecast)
Percent Forecast 4.22% 4.15% 3.89% (5 yr forecast/current year)
Avg Household Size 2.40 2.60 2.50
Avg Age 40.20 38.60 39.40
INCOME 1 MILE 2 MILES 3 MILES
Median Household Income $35,791 $40,259 $41,170
Average Household Income $59,046 $62,943 $67,721
Per Capita Income $24,734 $23,381 $25,800
DESTINATIONS DISTANCE (MILES) TRAVEL TIME
Interstate 95 1.90 7 min
Ft. Lauderdale-Hollywood Int'l Airport 22.4 26 min
Miami International Airport 8.50 13 min
Downtown Miami 6.80 14 min
DEMOGRAPHICS
DESTINATIONS
TRAFFIC COUNTS
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7500-7514 NE 6TH CT
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
AREA OVERVIEW
COLLECTION CROSS TRAFFIC COUNT DISTANCE TO STREET STREET COUNT YEAR SUBJECT
Biscayne Blvd NE 72nd Ter S 46,244 2018 0.18 mi
Biscayne Blvd NE 80th St S 42,431 2018 0.32 mi
NE 79th St NE 4th Ct E 33,757 2018 0.39 mi
13ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com
7500-7514 NE 6th CtMIAMI, FLORIDA 33138
WHY ONE COMMERCIAL?
Investment Sales And AcquisitionsOur comprehensive research and relationships bring deals to the finish line quicker for clients seeking to sell or acquire income producing property.
Capital Markets-Debt & EquityOur analysis of an opportunity can provide a variety of finance options.
Asset ManagementOur single purpose as asset managers is to maximize a property’s value for investment purposes.
Wealth Management AdvisoryWe are advisors to families and individuals who invest in real estate for generational wealth building and diversification.
Development AssistanceDevelopers are orchestra leaders who manage and coordinate the development process from the idea stage to the creation of the real estate.
Landlord RepresentationLeasing a property is only one part of Landlord representation. We manage the marketing process and create the messages to attract the right tenants. We have been through market cycles that shift supply and demand so we know how to deliver intelligence that produces results.
Tenant RepresentationWe understand the South Florida marketplace. Each tenant requirement is unique. Our custom solutions include: Penetration studies, Demographics, Void analysis, Adjacency studies, Location analysis and dynamics & Lease negotiations.
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Moving the needle means implementing
positive change. Being a great listener initiates the process. Investing the time to
understand our client’s opportunities pays off
with better results.
ONE Commercial Real Estate facilitates the optimal outcome for owners, occupiers and developers in commercial real estate. We connect intelligence with experience, knowledge and technical skills to deliver better and faster execution for clients. We think differently, innovate and listen better. Our values not only define us but they remind us every day why and how we serve our clients and our team members. Our value equation is driven by one simple concept: deliver and execute consolidated solutions that come from fully understanding the target and delivering with knowledge and experience. We utilize the best in class market intelligence and comprehensive tools that provide a competitive advantage to our clients. We have decades of on-the-ground experience and market knowledge in South Florida advising clients in all of the following aspects of commercial real estate.
ONE Commercial Real Estate | 1000 Brickell Avenue, Miami, FL 33131 | ONECommercialRE.com