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TRANSCRIPT
EXCLUSIVELY LISTED BYReal Capital Partners | Real Estate ServicesOtto Travieso, CCIM
| 305.477.9748| 305.785.7325
This property comprises 61,490 SF of functional small bay industrial product PROPERTY HIGHLIGHTS
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
4475 & 4519 SW 75 AVEMIAMI, FL 33155
Available Space:61,490 SF
Property Features:Centrally located beside Palmetto
Zoning:IU-2
CAP Rate:
Lot Size:104,764 SF/2.4 AC
122,000 VPD
DEVELOPMENT OPPORTUNITY AVAILABLE FOR SALE
Pricing:$7,900,000
Average Rents:$8.85 SF
Highway SR 826- Palmetto Expressway 122,000 VPD
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
PROPERTY AERIALS
Highway SR 826- Palmetto Expressway 122,000 VPD
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
PROPERTY AERIALS
Highway SR 826- Palmetto Expressway 122,000 VPD
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
PROPERTY AERIALS
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
ZONING
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
AREA MAPTROPICAIRE SHOPPING
CENTER
Highw
ay SR 826- Palmetto Expressw
ay 122,000 VPD
SW 72N
D A
VE 12,700 V
PD
SW 87TH
AV
E
SW 56TH ST
SW 40TH ST 75,000 VPD SR 976
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
AREA DEMOGRAPHICS
CENTRALNear Major Attractions, Markets, Passenger And Cargo Hubs:
27,282Total Businesses
281,894Total Employees
BUSINESS
STATISTICS RADIUSKEY FACTS
$77,370Average Household
Income
AverageHousehold Size
472,648Population Median Age
PopulationHouseholdsFamilies
Median Household Income
PopulationHouseholdsFamilies
Median Household Income
1 Mile 25,6358,1556,5143.124,6723,48246.9$45,881$64m330 1 Mile 26,1468,2646,6083.144,8893,37548.5$53,695$75,534
3 Miles 213,80968,85253,2023.0538,72930,12343.7$48,566$65,982 3 Miles 220,58970,70354,6383.0740,91129,79344.5$55,227$77,420
5 Miles 460,594154,899115,2842.9387,35367,54642.6$53,530$77,370 5 Miles 478,684160,400119,2532.9492,49667,90543.2$61,026$90,353
1 MILE
3 MILES
5 MILES
AREA OVERVIEW
42.7 5 Miles
2.7
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
SALES COMPARABLES
4475 & 4519 SW 75th Ave 4519 SW 75th Ave | Miami , Fl 33155
SALE PRICE: $7,900,000TENANTS: 22PRICE/TENANT: $7,900,000PRICE/SF: $128.47CAP Rate: N/AYear Built: 1976
7389 SW 45th St | Miami, Fl 33155
SALE PRICE: $2,544,700TENANTS: 7PRICE/TENANT: $363,529PRICE/SF: $182.82CAP Rate: N/AYear Built: 1981Sale Date: 7/13/2018NOTE: Purchased in cash. Owner is going to invest more money
once converted he can charge $18/SF.
SUBJECT COMP 1
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
SALES COMPARABLES
7050 SW 44th St | Miami, FL 33155
SALE PRICE: $5,625,000TENANTS: 22PRICE/TENANT: $255,682PRICE/SF: $160.08CAP Rate: N/AYear Built: 1979Sale Date: 10/10/2017
4560 sw 71st Ave | Miami, Fl 33155
SALE PRICE: $1,750,000TENANTS: 8PRICE/TENANT: $218,750PRICE/SF: $150.75CAP Rate: N/AYear Built: 1977Sale Date: 9/29/2016
COMP 2 COMP 3
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
COMPARABLES MAP
S1 2
3
COMP 4
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
LAND COMPARABLES
LAND 4519 SW 75th Ave | Miami , Fl 33155
SALE PRICE: $7,900,000LOT SIZE: 104,764 rsfPRICE/RSF: $75.41
LAND4400 SW 75th Ave | Miami, FL 33133
SALE PRICE: $10,000,000LOT SIZE: 129,561 rsfPRICE/RSF: $77.18SALE DATE: 10/4/2016NOTE: Located across the street from the subject property.
SUBJECT COMP 1
COMP 4
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
LAND COMPARABLES
LAND 3635 NW 78th Ave | Miami , Fl 33162
SALE PRICE: $6,500,000LOT SIZE: 94,075 rsfPRICE/RSF: $69.09NOTE: Currently under contract, scheduled to close. The net buildable SF are 94,075. The gross SF after City of Doral Easements is 127,290. A 180,000 SF 240 bed medical nursing facility will be developed at this site. The property was built over
LAND9500 SW 77th Ave | Miami, FL 33156
SALE PRICE: $1,225,000LOT SIZE: 15,594 rsfPRICE/RSF: $78.56SALE DATE: 8/6/2015NOTES:This land was purchased in 2015. In 2017 a 12,192 SF, 2 story
COMP 2 COMP 3
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
LAND COMPARABLES AND MAP
S
2
1
3
LAND 1800 SW 8th St | Miami , Fl 33133
SALE PRICE: $2,050,000LOT SIZE: 18,597 rsfPRICE/RSF: $110.23SALE DATE: 9/29/2016
NOTES
was developed at this site, a Davita Dialysis center, in 2
COMP 4
4
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
Occupied SF 22,500 77.05% 23,150 77.17%
Leaseback 6,700 22.95% 6,850 22.83%
Total SF 29,200 30,000
Total % EGI $/SF Total % EGI $/SF
Rent
Occupied Space 210,600.00 $9.36 193,200.00 $8.35
Leaseback 62,712.00 $9.36 57,197.50 $8.35
Potential Gross Rent $273,312.00 $9.36 $250,397.50 $8.35
Expense Reimbursement $0.00 0.00% $0.00 $0.00 0.00% $0.00
Gross Potential Income $273,312.00 100.0% $9.36 $250,397.50 100.0% $8.35
Vacancy & Collections $0.00 0.00% $0.00 $0.00 0.00% $0.00
Effective Gross Income $273,312.00 100.0% $9.36 $250,397.50 100.0% $8.35
Expenses
Real Estate Taxes: 17,104.00 6.26% $0.59 17,579.00 7.02% $0.59
Insurance: Property, GL, Windstorm 7,300.00 2.67% $0.25 7,500.00 3.00% $0.25
Management 13,665.60 5.00% $0.47 12,519.88 5.00% $0.42
FPL 723.84 0.26% $0.02 979.80 0.39% $0.03
Water & Sewer 9,067.08 3.32% $0.31 - 0.00% $0.00
Waste Services 6,768.00 2.48% $0.23 6,768.00 2.70% $0.23
Total Operating Expenses 54,628.52$ 20.0% $1.87 45,346.68$ 18.11% $1.51
Net Operating Income 218,683.48$ 80.0% $7.49 205,050.83$ 81.9% $6.84
Price $3,896,501 $4,003,500
Price/SF RBA $133.44 $133.45
Cap Rate 5.61% 5.12%
Blended Price $7,900,001
Blended NOI $423,734
Blended Cap Rate 5.36%
OCCUPANCY 4475 SW 75th Ave 4519 SW 75th Ave
PROFIT AND LOSS
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
447744794481448344854487448944914493449544974499450145034505450745094511451345154517
$12,000.00$14,400.00$16,800.00$10,800.00
$9,600.00$9,600.00
$10,800.00$9,600.00
$12,000.00$10,800.00$12,000.00$14,400.00$12,000.00$12,000.00$10,800.00$10,800.00$12,000.00$10,200.00
$9.60$11.52$13.44
$8.64$7.68$7.68$8.64$7.68
$9.60$8.64$9.60
$11.52$9.60$9.60$8.64$8.64$9.60$8.16
$1,000.00$1,200.00$1,400.00
$900.00$800.00$800.00$900.00$800.00
$1,000.00$900.00
$1,000.00$1,200.00$1,000.00$1,000.00
$900.00$900.00
$1,000.00$850.00
$17,550.00
LeasebackLeaseback
Jorge GuerenRina ByerThird Door Art Space-Nadine Del ValleEuro Design Quality Finishes-Jamil DiazEuro Design Quality Finishes-Jamil DiazCentury PalnUng-Ali Diaz
LeasebackLeaseback
Alvaro Salazar
Franklin SaucedaErick Painting-Erick GuerraService Contractor EqulDment-Freddy ViscarraAmerican Cabinet Design-Jose DuarteNestOf Uptiolstery-l$88C SanchezSunshine Chem Orv Nestor Sanchez
SF 4475 SW 75TH AVE | MIAMI, FL 33155 Vacant SF Monthly Rent Yearly Rent $/ SF
4523452745314535453945434547455145554561456745714575457945834587459145954599
$1,000.00$900.00
$1,000.00$1,000.00
$900.00$900.00
$1,000.00$1,000.00
$900.00
2000900900900900
900
1000
Barbara TrujilloTerra Flowers-Haydee CaballeroTrujillo Landscaping-Barbaro TrujilloTrujillo Landscaping-Barbaro TrujilloVidal Garcia Furniture-Leidy CarralG.R. Carpentry-Jorge AlvarezBaldeon Upholstery-Rigoberto BaldeonLuis Borrego
LeasebackPeter Reina
Vidal Garcia Furniture-Leidy CarralClassic Furniture-Justo ChambillaYansi G. ChavezLeasebackAKO Plumbing-Alberto RomanLeasebackLeaseback
SF Vacant SF Monthly Rent Yearly Rent $/ SF 4519 SW 75TH AVE | MIAMI, FL 33155
RENT ROLL
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
Comp No. Subject 1 2 3
Address4519 SW75th Ave
Miami, FL7389 SW 45th
St7050 SW 44th
St4560 SW 71st
Ave
City Miami Miami Miami Miami
Date of Sale --- 7/13/2018 10/10/2017 9/29/2016
Sale Price --- $2,544,700 $5,625,000 $1,750,000
Size GBA 61,491 13,919 35,138 11,609
Land Area (Acre) 2.41 0.60 1.94 0.52
Land to Bldg Ratio 1.70 1.87 2.40 1.93
$/SF Land 443.00 339.00 134.00
SP/SF (GBA) --- 77.18 69.09 78.56
Of ce Build-Out % 10.0% 10.0% 10.0% 10.0%
Days on Market 300 0 0
Financing --- 0% 54% 0%
Year Built 1976/1979 1981 1979 1986
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
Months Elapsed 2.33 11.53 24.07
Market Conditions/Time 0.00% 5.00% 10.00%
$182.82 $168.09 $165.82
-15.00% -5.00% -15.00%
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
Other 0.00% 0.00% 0.00%
($27.42) ($8.40) ($24.87)
-15.00% -5.00% -15.00%
$155.40 $159.68 $140.95
Sale No. PSF/GBA Net Adjustment Adj. PSF/GBA
Subject --- --- ---
Sale 1 $182.82 ($27.42) $155.40
Sale 2 $160.08 ($0.40) $159.68
Sale 3 $150.75 ($9.80) $140.95
Minimum Average Maximum
$140.95 $152.01 $159.68
Premise Estimated PSF/GBA Gross Bldg Area Value
As Is $152.00 $61,491.00 $9,350,000
STATISTICAL ANALYSIS
MARKET VALUE ESTIMATE
IMPROVED SALES ANALYSIS
ADJUSTED PRICE/GBA ANALYSIS
Size
Loading
Settling
Other
Other
Total Net Adjustments
Net Percent Adjustments
Total Adj. Price/GBA
SUMMARY OF IMPROVED SALES WITH ADJUSTMENTS
QUANTITATIVE ADJUSTMENTS
Property Rights
Financing Terms
Conditions of Sale
Adj. Price/GBA
SUMMARY OF IMPROVED SALES WITH ADJUSTMENTS
4475 & 4519 SW 75TH AVE | MIAMI, FL 33155
Otto Travieso, CCIM | 305.477.9748 | Cell: 305.785.7325 | [email protected] Carlos Ruiz | 305.216.4397 | [email protected]
Comp No. Subject 1 2 3 4
Property Name
Address4519 SW75th Ave
Miami, FL4400 SW 75th
Ave3635 NW 78th
Ave9500 SW 77th
Ave1800 SW 8th
St
City Miami Miami Miami Miami Miami
Date of Sale --- 10/4/2016 Pending 8/1/2014 9/29/2016
Sale Price --- $10,000,000 $6,500,000 $1,225,000 $2,050,000
Land Area (Acre) 2.405 2.974 2.16 0.358 0.427
Land Area (SF) 104,764 129,561 94,075 15,594 18,597
Front Freet 362 443 339 134 165
Price/Square Feet --- $77.18 $69.09 $78.56 $110.23
Property Rights --- Fee Simple Fee Simple Fee Simple Fee Simple
Financing --- 0 0 0 0
Conditions of Sale --- 0 0 0 0
Zoning Ind Ind Ind Of ce Of ce
0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
Months Elapsed 25.73 0.00 52.23 25.9
Market Conditions/Time 10.00% 0.00% 10.00% 10.00%
$84.90 $69.09 $86.41 $121.26
0.00% 0.00% 0.00% -20.00%
0.00% 0.00% -20.00% -20.00%
-10.00% 0.00% 15.00% 0.00%
Zoning 0.00% 0.00% 0.00% 0.00%
($8.49) $0.00 ($4.32) ($48.50)
-10.00% 0.00% -5.00% -40.00%
$76.41 $69.09 $82.09 $72.75
Sale No. Price/Square Feet
Subject ---
Sale 1 $77.18
Sale 2 $69.09
Sale 3 $78.56
Sale 4 $110.23
Minimum Average Maximum
$69.09 $75.09 $82.09
Square Feet
104,764
Less Adjustment:
Land Value As Is:
0
$7,870,000
$3.54 $82.09
Estimated Price/Square Feet
$75.09
Estimated Value
$7,870,000
STATISTICAL ANALYSIS
MARKET VALUE ESTIMATE
--- ---
$76.41($0.77)
$0.00
($37.48)
$69.09
$72.75
Location
LAND SALES ANALYSIS
ADJUSTED PRICE/GBA ANALYSIS
Adj. Price/Square FeetNet Adjustment
Total Adj. Price/Square Feet
Net Percent Adjustments
Total Net Adjustments
Frontage
Size
Property Rights
Financing Terms
Conditions of Sale
SUMMARY OF LAND SALES WITH ADJUSTMENTS
QUANTITATIVE ADJUSTMENTS
Adj. Price/Square Feet
SUMMARY OF IMPROVED SALES WITH ADJUSTMENTS