1393 SW 1st St
Miami, FL 33135
Office Property For Sale

Marcus & Millichap is proud to present 1393 SW 1st Street, a four-story single-tenant office building located in Miami, Florida. This property consists of two parcels, which total 20,909 square feet (0.48 acres) of land along with a 25,197 square foot office building. One of the parcels of land, which is located on 120 SW 14th Avenue is used only for parking. This building is located directly on SW 1st Street, which provides traffic counts of over 13,000 vehicles per day (VPD). Just four blocks north of this site is the Miami Marlins Stadium. This location is also just minutes away from Downtown Miami, Brickell, I-95, SR-836, and the Miami International Airport (MIA). This property is located in Little Havana, which is one of Miami's most famous neighborhoods due to its preserved 1920's style buildings. This neighborhood is one of the most dense neighborhoods in Miami, Florida. The community is now in the works of a master plan with the idea of encouraging new development in the area. 1393 SW 1st Street has been exceptionally maintained and provides professional curb appeal, excellent exposure, and high visibility signage opportunities. The building is 100% occupied by Family Resource Center of South Florida, Inc., which is a local child welfare service center established in 1978. Family Resource Center of South Florida has been growing significantly and has recently leased additional space in the immediate area, which demonstrates the strong and growing demand for their services. Tenant pays annual rent increases of 5% for the first three years, 4% for years four through six, and 3% for the last three years. The building went through a $1.6 million renovation in 2016, which consisted of new electric, plumbing, upgraded elevator, HVAC, flooring, LED lighting, bathrooms, break rooms, water fountains and fire alarm system. The property is currently zoned T6-8-O, which allows for the development of up to twelve stories in height including bonuses. This asset is ideal for any investor looking for steady income with minimal management and tremendous future re-development potential in one of Miami’s most renowned and promising neighborhoods