Transaction Highlights
Address: 260 Crandon Blvd # 13, Key Biscayne, FL 33149
Sold Price: $1,375,000
Size: 1,044 SF
Type: NNN Retail
We are pleased to announce the sale of a well-positioned NNN retail property at The Square, Key Biscayne’s leading shopping center. This 1,044 SF retail condo is secured through a sale-leaseback with Freddo Gelato, South Florida’s master franchisee for an internationally recognized brand with over 200 locations.
This marks another successful transaction with a repeat client, Freddo Gelato, which continues to expand and search for more locations across South Florida.
The property is supported by a secure 10-year lease. Additionally, it benefits from a rent increase of 3% with each renewal option.
FA Commercial assisted the client by locating, negotiating and purchasing the off market retail condo a few years ago, and now comes full circle by assisting the same client to exit the investment through this sale-leaseback strategy.