Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the exclusive listing of McDonald's Ground Lease, a 5,277-square foot net-leased property located in Miami, FL, according to Scott Lunine, Regional Manager of the firm’s Miami office. The asset is listed at $6,667,000.
Drew A. Kristol and Kirk D. Olson, investment specialists in Marcus & Millichap’s Miami office, have the exclusive listing to market the property on behalf of the seller, a private investor.
McDonald's Ground Lease is located at 16701 NW 67th Avenue in Miami, Florida. The property is an outparcel to the Palms Plaza Shopping Center, a Navarro Pharmacy anchored shopping center located on the northeast corner of NW 67th Avenue and the Palmetto Expressway (SR 826), which has over 150,000 cars a day driving through this intersection.
McDonald’s has occupied this location since 1978 and recently extended the base term of their corporate guaranteed lease for an additional 20 years showing their strong long-term commitment to the location. Additionally, the tenant is committed to demolishing the current McDonald’s structure and rebuilding a brand-new store on the same site. This is an ideal management free South Florida investment opportunity for a Buyer looking for cash flow guaranteed by a BBB+ rated corporation with aggressive base rental increases built into the lease.
About Marcus & Millichap (NYSE: MMI)
With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com
