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1818 NW 17th Ave 4,437 SF 100% Leased Retail Building Miami, FL 33125 $1,399,999 ($315.53/SF) 7.33% Cap Rate
INVESTMENT HIGHLIGHTS
- Main building (2,558 SF): former grocery store + storage/office levels; vacant at closing
- Over $300,000 in recent capital improvements
- Secondary building (677 SF): leased to tire shop at $38,052 annual gross rent
- Zoning: T6-8-O – strong mixed-use / redevelopment potential
EXECUTIVE SUMMARY
Prime Allapattah Corner Property with Redevelopment Potential on High-Traffic NW 17th Ave. Unique opportunity to acquire free-standing commercial property, blocks from River Landing Class A development, the Health District & numerous developments. Total Lot size of 5,045 with T6-8-O Zoning & two structures - Main building of 2,558 SqFt is currently operating as a Grocery Store on the ground level, storage/office on the second/third story. Secondary structure of 677 SqFt leased out to a tire shop paying $38,052 in annual gross rent. The Grocery store will be vacated at closing, making this a perfect opportunity for an owner user or repositioning opportunity to attract new tenants. Several new multifamily projects nearby, prime location for QSR, restaurant, retail, grocery, bank, or more in rapidly redeveloping neighborhood.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,437 SF
Building Class
C
Year Built
1918
Price
$1,399,999
Price Per SF
$315.53
Cap Rate
7.33%
NOI
$102,620
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.85
Lot Size
0.12 AC
Zoning
T6-8-O - Tropical Urban Center District
Parking
2 Spaces (0.45 Spaces per 1,000 SF Leased)
Frontage
41’ on NW 17th Ave Ave
AMENITIES
- Corner Lot
- Security System
- Storage Space
- Air Conditioning
Walk Score®
Very Walkable (86)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 01-3134-013-0400 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $473,129 |
PROPERTY TAXES
Parcel Number
01-3134-013-0400
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$473,129
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1818 NW 17th Ave
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