7275 Bird Road1,106 SF Retail Freestanding

Miami, FL 33155 - West Miami Submarket

Micael Machado

Realtor-Associate

786.859.6311

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Micael Machado | 786.859.6311

Price $1,390,000

Net Operating Income

$73,200

Capitalization Rate - Current

5.2%

Annual Rent Increases

2.5%

Price / SF $ 1,256.78

Rent / SF $ 66.60

Lease Type NNN

Gross Leasable Area 1,106

Lot Area 12,000 SF / 0.2755 ACRES

Year Built 1960

Building Size 1,106 SF

Roof & Structure Tenant’s Responsibility

HVAC and Utilities Tenant’s Responsibility

Repairs & Maintenance

Tenant’s Responsibility

Parcel ID # 30-4014-008-4300

Zoning (Special Business District)

BU-2

Tenant on this location since

1997

Daily Automobile Traffic

49,500

Compass is pleased to exclusively offer the sale of ENTERPRISE RENT-A- CAR located on 7275 SW 40th Street, Miami, FL 33155. This opportunity includes Triple Net (NNN) lease with a strong national tenant with over 7,600 locations in 85 different countries, providing for a unique and secure investment. 7 years remaining on the lease, with two 5 years options. This is a Fee Simple investment Opportunity located at busy Bird Road corridor close to major highways, and Miami International Airport. Tenant is at this location since 1997.

ENTERPRISE RENT-A- CAR is part of Enterprise Holdings, largest rental car company in the U.S. with revenues of $24.1 Billion in 2018. In August 31, 2017 Enterprise renewed lease to expire on August 31, 2027.

Overview

Real Estate Taxes Landlord pays first $8,000 Tenants pay the difference

Micael Machado | 786.859.6311

Triple Net (NNN) Lease | 7 Years Remaining

Attractive 2.5 % Annual Rental Increases

Two 5 Years Extension Options

Investment Grade Tenant | BBB+ Rating (S&P)

Many National Retailers in the Immediate Area

More than 49.5 K Traffic Counts

Close to Miami International Airport (MIA)

Centralized Location close to main Highways

Miami retail rents is far above national average

Surrounded By National Retailers

Close Proximity to Shopping Center, Hospital,Public Transportation

Highlights

Tenant Name Enterprise Rent-A-Car

Website enterprise.com

Parent Company Enterprise Holdings

Headquartered St. Louis MO

Rentable Square Feet 1106 SF

Percentage of RBA 100%

Lease Commencement

September 1, 1997

Lease Expiration August 31, 2027

No. of Locations 7600

Tenant Information

Micael Machado | 786.859.6311

Rental Schedule

1As of Sept 1, 2017

2

3

4

5

6

7

8

$69,600.00

$71,340.00

$73,123.50

$74,951.59

$76,825.38

$78,746.01

$80,714.66

1. The term of said Lease, which was to expire on August 31, 2017 is hereby extended so as to expire on August 31, 2027.

2. Not withstanding anything contained in the Lease to the contrary, commencing September 1, 2017, Tenant agrees to pay Landlord and Landlord agrees to accept Annual Rent in accordance, with the following schedule:

Monthly Rental Rate Extension Year Annual Rate

As of Sept 1, 2018

As of Sept 1, 2019

As of Sept 1, 2020

As of Sept 1, 2021

As of Sept 1, 2022

As of Sept 1, 2023

9

As of Sept 1, 2024

10

$82,732.53

$84,800.84

$86,920.86

As of Sept 1, 2025

As of Sept 1, 2026

Micael Machado | 786.859.6311

Location

Nearby businesses: McDonalds, Burger King, MIA, Target, Hertz, IHOP, Subaru, Shell, Publix, Mattress King,

Jiffy Lube, Taco Bell , Chevron, Post office, TD Bank.

Micael Machado | 786.859.6311

Miami Market Summary

The retail sector is undergoing a major

transformation globally. While retail sales

have consistently strengthened over the

cycle, the sector transformation is having

a profound effect on retail real estate

across the country. This has resulted in

construction grinding to a halt and rental

rates declining in many major markets.

Miami retail real estate has weathered

this transformation well. Retail rents in

the Miami metro increased by 2.7% year-

over-year, and have posted an average

annual gain of 3.7% over the past three

years. Four out of the top five retail rent

growth metros are in Florida.

Vacancies were very close to the five year cycle average of 3.6%, they register at 3.7%, remaining stable over the past four

quarters. There is 3,300,000 SF currently underway, representing a 3% expansion of the existing inventory. Over the past three

years, 3.4 million SF has delivered, or a cumulative inventory expansion of 2.5%. Sales activity was healthy over the past four

quarters, registering at $1,013,800,000, signaling strong investment conditions. The average annual sales volume over the past five

years has been $1.4 million.

These metrics point to a clear dichotomy when it comes to Miami’s retail fortunes, compared to the wider sector. Miami has long

placed strong focus on the retail experience, a direction that the entire retail market is heading towards. Miami’s experiential

focus has been shaped by the large number of visitors that come to the area for business and leisure every year. In 2017, the most

recent year with reported statistics, 15.7 million people visited Miami. Visitors are much less likely to go online to shop and they are

estimated to drive close to 30% of retail spending in the metro.

Capitalizing on the visitor impact, Miami saw the developments of mixed-use mega projects such as

Brickell City Center, the Design District, the Wynwood Arts & Entertainment District, and the mother of all Miami retail markets,

Lincoln Road in Miami Beach.

Micael Machado | 786.859.6311

Rent Analytics Miami Rent Trends

Retail rents have grown steadily over the past economic cycle and are consistently registering rent growth that is far above the national average. The market consistently ranks among the top 10 metros in the country for highestgross asking rents.

The market’s rent growth strength is well supported by tourist-heavy submarkets like Miami Beach, Downtown Miami, Aventura, Brickell, and Coconut Grove. The Miami Submarket is home to the Design District, where some tenants are willing to sign leases that are more than four times as costly as the metro’s average. Annual rent growth is currently at 2.7% twice the national average, and rental rates are at $37.00/SF. This is despite the high levels of deliveries and the strong supply pipeline. Malls continue to command high rent growth, with rises of over 7% over the past year. Strip malls also saw strong rent growth, registering rises of close 5% per year.

MEDIAN MONTHS ON MARKET

MEDIAN MONTHS ON MARKET

Peers West Miami Miami

2009 1.8 9.3 7.9

2010 7.7 10.1 11.7

2011 - 6.7 12.8

2012 - 8.3 13.1

2013 - 13.0 12.9

2014 - 14.1 14.8

2015 - 12.1 15.4

2016 7.0 7.4 11.4

2017 - 8.9 8.5

2018 - 8.5 8.1

2019 - 8.0 8.0

Micael Machado | 786.859.6311

Rental Comparable

Micael Machado | 786.859.6311

Sales Comparable

Micael Machado | 786.859.6311

Zoning

Demographics

BU-2 Special Business District

Purpose:Large scale commercial and / or office facilities

Uses:Retail (build up to 40% or 4,800SF leasable area)Office Facilities Animal HospitalAutomobile Parking LotGarage

Other uses available: http://www.miamidade.gov/zoning/district-bu-2-special-business.asp

Population 1 Mile 3 Mile 5 Mile

Current 17,301 181,540 511,806

5 Yr Growth 4.2 % 3.7 % 4.2 %

Buying Power $381.2M $3.4B $9.6B

Average Household Income

$74,326 $82,214 $79,714