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2829 Bird Ave
Miami, FL 33133
Grove Center · Retail Property For Sale
Investment Highlights
- Covered Land Play – the site is currently zoned T5-O which is zoned for 65 Units per Acre
- Below Market Rents – average rents at the center are $43.35 PSF with the high watermark of recent deals in the center being struct in mid 50s
- Restructure Tenant Expense Reimbursements – 52% of the leases are on a NN basis (RE taxes and insurance)
- Hold / benefit from CPI Clauses - over 65% of the RSF contain CPI clauses in their leases
- Average Suite Size 890 SF – the property contains 10 suites with an average suite size close to 890 SF
- Lucrative Parking Monetization - upside to be had in capturing transient revenues from Happy Wine and Flanagan's
Property Facts
Property Type
Retail
Property Subtype
Storefront
Building Size
8,907 SF
Building Class
C
Year Built
1967
Percent Leased
92%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.59
Lot Size
0.34 AC
Zoning
T5-O - Medium Density Commercial
Parking
18 Spaces (2 Spaces per 1,000 SF Leased)
Frontage
97’ on Bird Ave
Amenities
- Bus Line
- Pylon Sign
- Signage
- Air Conditioning
Property Taxes
| Parcel Number | 01-4116-033-0090 | Improvements Assessment | $1,825,000 |
| Land Assessment | $1,875,000 | Total Assessment | $3,700,000 |
Property Taxes
Parcel Number
01-4116-033-0090
Land Assessment
$1,875,000
Improvements Assessment
$1,825,000
Total Assessment
$3,700,000
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