MIAMI-A 48,813-square-foot Best Buy has hit the Doral commercial real estate market. The $19.9 million listing price represents a 7.25% capitalization rate.
Marcus & Millichap won the exclusive listing on the property. Adam J. Tiktin, a vice president investments in the Miami office of Marcus & Millichap, and Paul D. Nudelman, a retail investment specialist also in Miami, are representing the seller, a local developer.
"Constructed in 2008, this prime net-lease building offers an investor with an excellent opportunity to acquire a property occupied by a Standard & Poor's credit-rated tenant in an A+ location," says Tiktin. "With an NOI of nearly $1.5 million, this investment will enable the new ownership to achieve solid year-over-year returns."
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