Investment Highlights
- Long-Term Tenancy, Strong Commitment to the Site With Tenant Operating at This Location for Over 40 Years
- Brand New, 15-Year, Triple Net (NNN) Lease
- 3, 5-Year Tenant Renewal Options With 2% Annual Rent Increases Throughout Base Term and Option Periods
- Farm Stores is Part of a Growing $700-Billion Industry, and is the Largest, Most Innovative Drive-Thru Grocery Store Brand
- Located on 15th Street at Krome Avenue With More Than 30,000 Vehicles Daily
- Krome Avenue is the Westernmost North/South Arterial Connecting US 1 and the Florida Keys and US 27 in the North
- Homestead is Considered the Gateway to the Florida Keys and is Located Between Biscayne and Everglades National Parks
- Surrounding National Retailers Include Walmart Neighborhood Market, Publix Supermarket, Winn-Dixie, Lowe’s, Marshall’s, Five Below, Planet Fitness, Party City, Beall’s Outlet, Kohl’s, Old Navy, T.J. Maxx, Ross, Bank of America, Chase Bank, Petco, Pet Supermarket, McDonald’s, Burger King, Chili’s Grill & Bar, LongHorn Steakhouse, Panera Bread, Chipotle, Starbucks CVS, Walgreens and Many More
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Farm Stores drive-thru grocery store located in Homestead, FL. This tenant has a strong commitment to the site and has been in place for more than 40 years. This is a brand new, 15-year, triple net (NNN) lease. This lease offers three, five-year tenant renewal options with two percent annual rent increases throughout the base term and option periods. The Farm Stores brand is part of a growing $700-billion industry, and is the largest, most innovative drive-thru grocery store.
The population within five miles of the property is over 150,000 residents. The Subject Property is located on 15th Street, off Krome Avenue with a traffic count of approx. 30,000 vehicles. Krome Avenue is the westernmost north/south arterial road, connecting US 1 and the Florida Keys and US 27 in the north. The Property is one mile from Miami Dade College, Homestead Campus. Miami Dade College has a total enrollment of 51,679 students across eight campuses.
Homestead, Florida is part of the Miami metro area with a population of more than 2.7 million residents and is expected to add 81,000+ people over the next five years. Homestead is considered the gateway to the Florida Keys and is located between Biscayne and Everglades National Parks. The Subject Property is only 21 miles from Key Largo, the first and northernmost of the Florida Keys.
Surrounding national retailers include Walmart Neighborhood Market, Publix Supermarket, Winn-Dixie, Lowe’s, Marshall’s, Five Below, Planet Fitness, Party City, Beall’s Outlet, Kohl’s, Old Navy, T.J. Maxx, Ross, Bank of America, Chase Bank, Petco, Pet Supermarket, McDonald’s, Burger King, Chili’s Grill & Bar, LongHorn Steakhouse, Panera Bread, Chipotle, Starbucks, Walgreens and many more.
