Doral Shops & Professional Center

15,314 SF | 100% Leased | Retail Building | Doral, FL 33178 | $10,645,000 ($695/SF) | 5.78% Cap Rate

Date Added:
May 17, 2024
Days on Market:
28 days

Asking Price $10,645,000

Property Type
Retail, Restaurant
Square Feet
15,314 SF
Price / Square Foot
$695

Listing Contacts

Scott Sandelin
Scott Sandelin
Verified Profile
Edward Romo
Edward Romo
Verified Profile
  • Property Info

Property Overview

The Doral Shops & Professional Center at 3655 NW 107th Avenue is a notable retail asset, presenting a prime investment opportunity in the thriving Miami suburb of Doral. This well-maintained, multi-tenant retail center spans a total gross leasable area of 15,314 square feet and is fully occupied by a diverse mix of nine tenants. The diversity of tenants creates a dynamic synergy, ensuring stable foot traffic throughout the day. The center is positioned to serve a bustling business community and surrounding residential neighborhoods, benefiting from robust customer demand.
Located in Doral, an affluent city with a population of 77,759 residents and approximately 100,000 daily workers, the property complements the area's vibrant, tropical setting. Doral is celebrated for its shopping destinations, world-class golf courses, and rich Latin culture, making it a highly desirable location for retail businesses. Tenants benefit from frontage along 107th Avenue, a major roadway with impressive traffic counts exceeding 67,000 vehicles per day.
Adding to its strategic value, the property is adjacent to Nicklaus Children's Outpatient and Urgent Care Center, a significant 40,000-square-foot healthcare facility dedicated to patients 21 years and younger. Furthermore, it is located across from Bridge Point Doral, a massive 2.6 million-square-foot logistics center currently under development. Access to major highways and thoroughfares, including Florida's Turnpike, the MIA Cargo Viaduct, State Road 826, and State Road 836, as well as its proximity to Miami International Airport (MIA), Port Miami, and Miami's Central Business District, further boosts the retail center's visibility and traffic.
Investing in the Doral Shops & Professional Center offers the rare chance to acquire a fully leased retail center in a high-barrier market where retail properties are infrequently available and always in demand.

Property Details

Class
B
Year Built/Renovated
2004/2024
Stories
1
Property Subtype
Freestanding, Day Care Facility/Nursery, Storefront
Lot Size (sq. ft)
33,977 SF

Highlights

  • This fully leased retail center with NNN leases and 3% annual increases provides impressive future rent growth.
  • With few tenant renewal options, the new landlord has flexibility and upside potential via new leases and increased rates.
  • Doral's dense infill area boasts over 38,000 residents within 2 miles and over 1.34 million people within 10 miles of the location.
  • Investors can expect an immediate stable cash flow, as 55% of current tenants have occupied their space for over 10 years.
  • Doral encompasses numerous affluent neighborhoods boasting an average household income of over $113,000 within a 2-mile radius.
  • Anchored by Nicklaus Children’s Hospital and proximity to Bridge Point Doral, accessibility is seamless to the Turnpike, SR 826, and SR 836.

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