Walgreens - Bird Ave, Miami, FL_Property for Sale
Walgreens - Bird Ave, Miami, FL_Property for Sale
3490 Bird Rd, Miami, FL, 33133, US

Walgreens - Bird Ave, Miami, FL

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in a Walgreens located at 3490 Bird Rd in Miami, FL (the “Property” or “Asset”). The Asset is strategically situated at the intersection of S Dixie Hwy and Bird Rd with clear exposure to over 139,000 VPD. This location serves as a primary pharmaceutical provider for patients of Coral Cables Hospital, a 250-bed nationally renowned medical facility located 1-mile from the Property. In addition to the hospital, the Asset is surrounded by numerous medical practices, retail corridors, and residential communities with exceptional demographics. 178,000 people reside within 3-miles of the Property, boasting average household incomes of $118,000.

The Asset’s positioning and surrounding demographics has resulted in exceptional reported sales, $7.3 million in annual revenues (RX excluded). Additionally, this location ranks in the 72nd percentile of Walgreens stores in the US by annual visits, per Placer.ai.

 As a result of this location’s success, Walgreens will execute a brand-new absolute NNN 15-year lease at closing of escrow. The lease will feature 5.0% rent bumps every 5-years in the base term and options. Following the 15-year in-place lease term, there are twelve (12) 5-year extension options. 



Asking Price
Building area Gross
1,200 sm
Year built
Land area Gross
0.38 ha (3,818 sm)
Cap Rate


Investment highlights

  • Trophy Asset – Corner Site in the Bustling, International Hub of Miami, FL
  • One-Mile Drive from University of Miami, A Sprawling the 240-Acre Campus With Over 17,000 Students Enrolled Annually, $375 Million in Annual Research Expenditures & Over $3.4 Billion in 2021 Net Assets
  • Located Between the Communities of Northeast Coconut Grove & Southeast [Coral] Gables With a Median Home Value of $1.5M & $1.3M, Respectively – Both More Expensive Than Over 96% of US Communities
  • Located in Strong Lifestyle Corridor Containing 3.5M+ SF of Retail Space & 11,000-Units of Residential Inventory
  • Direct Exposure to Over 139,000 VPD via the intersection of South Dixie Highway and Bird Road
Walgreens - Bird Ave, Miami, FL 4_Property for Sale
Walgreens - Bird Ave, Miami, FL 4_Property for Sale

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Walgreens - Bird Ave, Miami, FL (0 Properties)

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Last updated
Jan 11, 2023