Plaza 2650 2650 SW 27th Ave 20,335 SF 100% Leased Office Building Miami, FL 33133 $8,000,000 ($393.41/SF)

Property is partially vacant, with significantly below market rents and short terms where leased. For an income investor, gross potential income is estimated to be $735K at market rents, indicating potential net operating income of +/- $525K assuming 5% vacancy, 3% for management, and 2.5% for maintenance & reserves. Usable and common area on first floor is 1,508 sf with remainder consisting primarily of covered parking. Second and third floors each have 9,396 sf of usable and common area. Common area factor is 25% in present configuration.
This high-visibility property sits on the northern perimeter of the Grove Central transit area and is well within the radius required for general Transit Station Neighborhood District potential. Property currently consists of general office space, but building could be reconfigured for a medical user. Land may be available nearby to meet additional parking needs should a buyer wish to expand rentable area by building out all or part of the garage space in the first floor.
Details regarding existing short-term leases, floor plans, and survey are available upon request.