Tire Speed Shop

6864 SW 8th St. - Miami FL 33144

LTV (Loan to Value)	65.00%	Current NOI	$86,520.00
Interest Rate	4.250%	Cap Rate	6.500%
Fixed Term	10 Years	Land Area	0.28 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$861,250	Property Type	Retail
Payment	$4,665.72	Property Lease	Automotive
Building Size	4,776 SF	Remaining Terms	9 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors a 4,776 square-foot freestanding Tire Speed Shop property on 0.28 acres in Miami, Florida. Tire Speed Shop is operating under an original ten (10) year NNN lease with 3% rent increases annually. The property is strategically located in the market of Miami, FL, situated to serve the tenant’s targeted demographic, with a population of 184,292 and an average household income of $61,430 within a three (3) mile radius.The property is 100% leased to Tire Speed Shop, a pillar of the Miami community. The shop is a leader in offering name brand tires, wheels, auto repair, and brake services for customers located in and around the Miami, Florida area.

Highlights

Core Miami Real Estate – This property offers investors the rare opportunity to purchase Prime Miami real estate located in the famous Calle Ocho districtNNN Lease Structure – Landlord is only responsible for repair of the structure of this property, tenant covers all other costs and repairs providing a nearly management free assetAnnual Rent Increases – Rare, above market 3% annual increases provide an increase in return over the term of the leaseNew Development to Adjacent Property – A brand new Walmart Neighborhood Market has been built across the street which will increase traffic to an already busy areaInfill Location – High barriers to entry due to dense population and previous developmentIncome Tax-Free State – Florida is one of the rare states which has no state income, estate or inheritance taxesStrong Surrounding Demographics – 184,000 people in a 3 mile radius and average household income of $60,000 with annual population growth expected to continue over the next 5 years

Property Description

Miami is a city located on the Atlantic coast in southeastern Florida and the county seat of Miami-Dade County. The 44th most populated city proper in the United States, with a population of 417,650, it is the principal, central, and most populous city of the Miami metropolitan area, and the most populous metropolis in the Southeastern United States after Washington, D.C. According to the U.S. Census Bureau, Miami’s metro area is the eighth most populous and fourth-largest urban area in the United States, with a population of around 5.5 million.

NNN Loans Funding

Triple-Net Lease Financing arranged by NNNLenders. Offering Triple Net NNN Property Loans.