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Retail/Office Strip Center in Little Havana 237 NW 12th Ave 8,000 SF 100% Leased Retail Building Miami, FL 33128 $2,475,000 ($309.38/SF)
Investment Highlights
- All tenants are on month to month leases and paying below-market rents (~$14/SF), providing a clear path to increase income by adjusting rents.
- Elevator-equipped and fully ADA compliant, the building completed its 40-Year Re-Certification in 2025, minimizing capital expenditure risk.
- Elevator-equipped and ADA compliant
- Ownership is offering favorable seller financing options, reducing the barrier to entry and enhancing potential returns.
- The ±8,000 SF building is divided into 10 small bays (±800 SF each), ideal for local businesses and easy to lease or re-tenant.
- Located between West Flagler Street and NW 7th Street—two corridors undergoing significant redevelopment with new multifamily and mixed-use projects.
Executive Summary
Do Not Disturb The Tenants
Marcus & Millichap is pleased to present 237 NW 12th Avenue, a two-story retail strip center located in the heart of Miami’s Little Havana submarket. This ±8,000 square foot property is comprised of 10 small bay units, each approximately 800 square feet in size, offering flexible configurations ideal for local service and retail tenants.
Currently, all tenants are on month-to-month leases and paying significantly below-market rents, averaging just $14 per square foot. This presents a compelling value-add opportunity for an investor to reposition the tenancy and increase rental income to market levels.
The property recently received its 40-Year Re-Certification in 2025, eliminating any near-term capital concerns related to structural or electrical compliance. Additionally, the seller is offering attractive financing terms, providing further flexibility for prospective buyers.
Strategically positioned on NW 12th Avenue between West Flagler Street and NW 7th Street, the property is surrounded by numerous mixed-use and multifamily developments, underscoring the area's continued growth and revitalization. This corridor serves as a vital connector between Little Havana, the Health District, and Downtown Miami, benefiting from strong visibility and daily traffic.
Marcus & Millichap is pleased to present 237 NW 12th Avenue, a two-story retail strip center located in the heart of Miami’s Little Havana submarket. This ±8,000 square foot property is comprised of 10 small bay units, each approximately 800 square feet in size, offering flexible configurations ideal for local service and retail tenants.
Currently, all tenants are on month-to-month leases and paying significantly below-market rents, averaging just $14 per square foot. This presents a compelling value-add opportunity for an investor to reposition the tenancy and increase rental income to market levels.
The property recently received its 40-Year Re-Certification in 2025, eliminating any near-term capital concerns related to structural or electrical compliance. Additionally, the seller is offering attractive financing terms, providing further flexibility for prospective buyers.
Strategically positioned on NW 12th Avenue between West Flagler Street and NW 7th Street, the property is surrounded by numerous mixed-use and multifamily developments, underscoring the area's continued growth and revitalization. This corridor serves as a vital connector between Little Havana, the Health District, and Downtown Miami, benefiting from strong visibility and daily traffic.
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Property Facts
Sale Type
Investment
Property Type
Building Size
8,000 SF
Building Class
C
Year Built
1987
Price
$2,475,000
Price Per SF
$309.38
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.86
Lot Size
0.21 AC
Zoning
T6-8-O - high-density urban area
Parking
14 Spaces (1.75 Spaces per 1,000 SF Leased)
Frontage
Walk Score®
Very Walkable (89)
Nearby Major Retailers
Property Taxes
| Parcel Number | 01-4102-005-1810 | Improvements Assessment | $670,000 |
| Land Assessment | $930,000 | Total Assessment | $1,600,000 |
Property Taxes
Parcel Number
01-4102-005-1810
Land Assessment
$930,000
Improvements Assessment
$670,000
Total Assessment
$1,600,000
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Retail/Office Strip Center in Little Havana | 237 NW 12th Ave
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