11034 Biscayne Blvd
Miami, FL 33161
Land For Sale · 0.27 AC

Unique Opportunity to acquire two properties, situated in one of the most iconic places in Miami Shores at 11032 & 11034 Biscayne Blvd. Miami, FL 33161, the two properties combined size is 11,652 SF (0.27 Acres) with a Commercial Building of 646 SF, the current zoning is (BU-1A D Business Districts, limited). Available Land 11,659 sf Possible to Build a 60,000 sf of Building with a 6 Story Building with the New Zoning. Example, if you just Build a 10,000 sf Commercial Mixed Use Building and Leasing it for $70 NNN at Market Rent, it will be $700,000 YEARLY NET INCOME. Acquisition Cost: Land Cost at $3,000,000 Purchase Price: $257/sf Building Cost for 10,000 sf Brand New Building: $340/sf Land Purchase Cost: $3,000,000 Construction Cost: $3,400,000 Total Investment: $6,400,000 Pro Forma Rental: $700,000 NNN for the 10,000 sf Building PROFORMA CAP RETURN ON INVESTMENT: 10.94% Average daily traffic counts of 50,000 vehicles on Biscayne Blvd. This property is situated in a comprehensive Development Master Plan (CDMP) Business and Office. This investment provides an excellent Visibility, Exposure and Accessibility. Favorable Zoning BU-1A Commercial which Allows for a wide range of Business/Commercial Uses, ideal for an Owner User or a Developer. Investment Highlights: Asking Price: $3,000,000 Covered Land Play: Significant future development potential at the end of the tenant's term. Major National Retailers: Publix, Whole Foods, The Home Depot, Starbucks, Burlington, CVS, Dunkin Donuts, Ross & walkable to Miami Shores Country Club Population: 174,000 in 3 miles Average Income Household: $80,000 in 3 Miles Income: $5,000/month first year and $5,500 for 6 months (2nd year)