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| Price $28,596,000 | Built/Renov 2023 | Tenant Tesla |
| Cap Rate 5.50% | Lease Type
Double NN | Guarantor Corp T and Rated |
| Size/SF
61,000
| Lease Start
12-03-2023
| #Units
1,208
|
| Price/SF $468.79 | Expiration
12-02-2038
| Tenant Type Automotive |
| NOI $1,572,798 | R. Term 13.10 | Ownership Fee Simple |
| Rent/SF
$25.78
| Increases 10.0%/5/yrs | Pop 5Mi 107,221 |
| Lot/AC 9.81 | Options 3/5yrs/2.5% | AHHI 5Mi $116,792 |
| | |
Tesla is strategically located on FL-50, with access to 39,746 vehicles passing by daily. The property is adjacent to the SR-50 arterial (39,746 VPD) and is in close proximity to its junction with Florida’s Turnpike (102,500 VPD). The immediate area is surrounded by other neighboring auto dealerships, retail centers, and well-known national tenants including Target, Petco, ALDI, Walgreens, TJ...
...New construction
Dense retail corridor
Near major nationals
Highway location
Strong demographics
Income tax free state
Long 10+ yr lease
Annual rent increases
Traded and rated company
Investment grade tenant
Tesla, Inc. is an American electric vehicle and clean energy company. They specialize in electric vehicle manufacturing, battery energy storage from home to grid-scale, and solar panel and solar...
| 1 Miles | 3 Miles | 5 Miles | |
| 2029 Total Population : | 6,935 | 39,473 | 125,013 |
| 2024 Total Population : | 6,231 | 36,779 | 110,325 |
| 2024 Employed Civilian Pop : | 3,023 | 18,191 | 55,280 |
| 2024 Total Businesses : | 282 | 1,048 | 3,414 |
| 2024 Average Household Income : | $ 134,191 | $ 131,957 | $ 126,462 |
| 2024 Total Consumer Spending : | $ 280 M | $ 1600 M | $ 4445 M |
| 2024 Median Age : | 41 | 43 | 42 |
| 2024 Total Households : | 2,430 | 13,993 | 40,495 |
| 2024 Pop Age 25+: Bachelor's Degree : | 1,300 | 6,752 | 19,435 |
| 2024 Average Home Value : | $ 521,956 | $ 489,204 | $ 469,144 |
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| 2012 | 6,271 | 0.35 mi | ||
| State Rd 50 | Magnolia Pointe Blvd | 2012 | 39,746 | 0.39 mi |
| Ronald Reagan Tp | 2022 | 6,800 | 0.53 mi | |
| Magnolia Pointe Blvd | 2022 | 56,500 | 0.54 mi | |
| Hartle Road | Myers Ct | 2021 | 2,800 | 0.54 mi |
| Co Rd 455 | Arrowhead Trl | 2007 | 56,000 | 0.68 mi |
| Myers Ct | 2022 | 2,800 | 0.77 mi | |
| Satsuma Leaf Ave | 2022 | 2,800 | 0.84 mi | |
| State Rd 50 | Emil Jahna Rd | 2012 | 44,500 | 0.94 mi |
| Emil Jahna Rd | 2022 | 55,500 | 0.96 mi |
Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
