214-242 NW 42nd Ave
Miami, FL 33126
Office Property For Sale

Great commercial Class B Building for sale currently used as medical offices. The Property is located along the west side of NW 42nd Avenue (Le Jeune Road), between NW 2nd Street and NW 2nd Terrace in, Miami-Dade County, FL near Coral Gables. The Property consists of a four-story multi-tenant office building with basement and above ground level parking, constructed in 1989 and renovated in 2006. Total rentable building area is approximately 13,130 square feet. The adjusted square footage per the Miami-Dade County Property Appraiser is 24,880 square feet. The improvements are situated on an 8,500 square foot (0.20 acres) lot. Zoning on this lot is T6-8-O, Urban Core Open Transect Zone by Miami, FL. The building has a first level consisting of an elevator landing, and three upper stories consisting of offices. The parking is a split-level design, with an above ground level portion providing 13 parking spaces and accessible via a ramp, and a separate basement level (below-grade) level providing 18 parking spaces and accessible via a ramp. The lower parking level also has a security gate. The site is accessible directly to southbound Le Jeune Road traffic. The site benefits from excellent visibility due to very high volumes of traffic on Le Jeune Road with excellent signage potential and exposure for marketing and advertising purposes. The fourth floor is built-out as a professional executive office; the third floor is built-out as both medical and administrative offices and the second floor is built-out as medical offices, including CT scan rooms and sleep study rooms. The approximate size of each floor is 4,377 square feet per floor for a total rentable area of 13,130 square feet. The building is currently occupied by affiliated entities of the owner’s principals. One affiliated entity is willing to remain as tenants on the 2nd floor at an annual gross rental rate of $38.00 per square foot, plus utilities, providing for an excellent partial leaseback opportunity. Alternatively, the Property can be sold free of any tenancies should a prospective buyer desire to owner-occupy. Second and third floor is built out for medical and the fourth floor is perfect for professionals such as lawyers, accountants or executive offices. This investment opportunity offers multiple options for a buyer. Offering Memorandum available upon request.