Marcus & Millichap Sells Miami-Dade Walgreens For $6.7 Million

Marcus & Millichap announced the sale of a 13,650-square-foot net-leased Walgreens property located in Kendall.

The asset traded for $6,705,263.

“The acquisition of this Walgreens met all the requirements for our client,” said Eddie Toledo, senior associate, “With a brand new 15-year NNN lease and impressive store sales, our client recognized the excellent opportunity to acquire a well-positioned asset on Kendall Drive which benefits from its proximity to Baptist Health West Hospital.”

The buyer, a local private investor, was secured by Jonathan De La Rosa, first vice president, and Toledo from Marcus & Millichap’s Miami office.

The subject property is located at 16690 SW 88th St. near a highly trafficked local thoroughfare. Built in 2004 on 1.41 acres, the property is an outparcel to Kendall Pointe, a shopping center with several national retailers including Aldi and PetSmart.