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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
Unique opportunity to acquire a free-standing commercial property on the corner of NW 17th Avenue, a main corridor just blocks from the Class A River Landing development, the Health District, and numerous nearby projects.? The 5,045 SF lot carries flexible T6-8-O zoning and features two structures.?
The main building (3,696 SF) currently operates as an owner-operated grocery store on the ground floor, with storage/office space on the second and third levels.? The secondary structure (741 SF) is leased to a tire shop, providing in-place income.?
The property can be delivered vacant at closing, making it an ideal fit for an owner-user or a repositioning play.? Alternatively, business equipment and licenses associated with the existing grocery operation may be negotiated as part of the purchase — including a scale license, tobacco sales, and beer & wine — offering a turn-key path for a buyer who wishes to continue or refresh the store.?
With several new multifamily projects underway nearby, the hard-corner location is well suited for an incoming grocery operator, QSR, restaurant, retail, bank, or other uses in a rapidly redeveloping neighborhood.?
The main building (3,696 SF) currently operates as an owner-operated grocery store on the ground floor, with storage/office space on the second and third levels.? The secondary structure (741 SF) is leased to a tire shop, providing in-place income.?
The property can be delivered vacant at closing, making it an ideal fit for an owner-user or a repositioning play.? Alternatively, business equipment and licenses associated with the existing grocery operation may be negotiated as part of the purchase — including a scale license, tobacco sales, and beer & wine — offering a turn-key path for a buyer who wishes to continue or refresh the store.?
With several new multifamily projects underway nearby, the hard-corner location is well suited for an incoming grocery operator, QSR, restaurant, retail, bank, or other uses in a 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
Exceptionally walkable
90/100
Fairly drivable
50/100
Good public transit
70/100
Fairly bikeable
50/100
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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