The Woody’s Backyard Grill property located at 600 Payne Drive has been listed for sale for $1.55 Million. That doesn’t mean its closing down. The restaurant itself is under new management. As you know, it recently reopened. However, the investors who own the actual property appear interested in selling the property.
Here are the details of the property as listed on LoopNet:
DWNTWN Realty Advisors has been retained exclusively by ownership to arrange the sale of 600 Payne Drive in Miami Springs, FL. The subject property includes three contiguous parcels totaling 7,877 SF and a 4,000 SF building, which encompasses outdoor dining. There are 15 parking spaces available. The offering is a single-tenant NNN retail occupied by Woody’s Tavern Grill which just signed a new 10-year NNN lease with (1) 5-Year Option with 4% annual increases. The first year of the lease operates under a gross rent model,
transitioning to a NNN lease from Year 2 onwards. This shift significantly reduces landlord responsibilities for operating expenses, taxes, and insurance. Woody’s Tavern Grill is a well-regarded establishment in Miami Springs, FL, known for its great food, drinks, live music, and sports. With over 40 years of combined experience in the restaurant industry, the team behind Woody’s is passionate about delivering an exceptional dining experience. This property offers a robust investment opportunity with a strong tenant in place, a renovated structure, and a prime location in Miami Springs.
Learn more about the listing at:
https://www.loopnet.com/Listing/600-Payne-Dr-Miami-Springs-FL/31892186/
