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A single-tenant building occupied by Starbucks is up for grabs in Doral. The property hits the market as the inventory of net-lease properties rented by investment-grade corporate guaranteed tenants continues to decrease. My team recently has been tapped to market the building at 7840 NW 25^th Street. The price tag: $3.86 million.

The demand for investment properties in Doral, dubbed the ‘fastest growing big city’ in Florida, has exploded during this real estate cycle, fueled largely by foreign investors.

The Doral asset presents a great opportunity for a buyer seeking an investment vehicle that doesn’t require a hands-on approach because the tenant maintains the property.

Starbucks recently signed a 10-year extension, which starts on March 1st, 2018 and has four five-year renewal options. This location, which is exceptionally maintained, provides ample parking along with a drive-through. The building, which consists of 1,816 rentable square feet, is an out parcel to the Shoppes at MICC, a 46,000 square foot retail strip center on NW 25th Street, which provides traffic counts of over 30,000 vehicles per day.

The area is expected to thrive with the construction of the Jackson Health System’s Jackson West Medical Center, situated across the street. Construction of the medical complex began this year and will house an adult and pediatric emergency room, a diagnostic center, and outpatient clinics. The site can also support an inpatient hospital with 100 beds. The area provides easy access to the Palmetto Expressway (SR-826) and Miami International Airport (MIA).

According to Florida International University’s Metropolitan Center, Doral has become a hotspot for international buyers, corporations and real estate developers. The city’s population rose by 26.1 percent — roughly 12,000 people — from 2010 to 2016.  The largest Hispanic group in Doral is of Venezuelan origin, almost 32 percent of the city’s Hispanic population, followed by those of Colombian origin, about 19 percent.

In 2016, Doral recorded a population of over 58,000 residents with more growth expected as new high-end condos, town homes, single-family homes and apartments are currently under construction or in the permitting process. The area is also poised to present new mixed-use projects, warehouses, hotels, medical facilities, parks, schools and office space.

This property is attracting serious interest from LatAm investors looking for safe and stable investment opportunities to protect and grow their capital. Since 2015, foreign investors have increasingly invested in income-producing properties while moving away from investing in pre-construction condos – historically a targeted asset. Between January and November 2017, foreign capital has been involved in at least $1.06 billion worth of transactions tied to commercial real estate, according to Real Capital Analytics, a US-based research firm. That number is significantly up from 2014, when at least $468 million of cross-border transaction took place in Miami.