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Value-Add Shopping Center 5931-5969 NW 2nd Ave 4,532 SF 84% Leased Retail Building Miami, FL 33127 $2,300,000 ($507.50/SF)
Investment Highlights
- Value-add shopping center + Strategic location
- One lease has 3 years remaining, the rest of the leases are month-to-month
- Fully leased to tenants paying below market rates
- 6 units, 4 tenants – Two tenants are occupying two units – All units are approx. 700 SF
Executive Summary
Opportunity to purchase a shopping center in the heart of a rapidly emerging sub-section of Little Haiti.
The property is currently rented below market on mostly month-month leases. If the units are all rented at $2,500/month + NNN, the property would yield a 7.8% cap rate at asking price. The property is surrounded by highly successful retail businesses including Panther Coffee and Sur. It also has development rights for up to 5 stories and a variety of uses.
The property is currently rented below market on mostly month-month leases. If the units are all rented at $2,500/month + NNN, the property would yield a 7.8% cap rate at asking price. The property is surrounded by highly successful retail businesses including Panther Coffee and Sur. It also has development rights for up to 5 stories and a variety of uses.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,532 SF
Building Class
B
Year Built
1985
Price
$2,300,000
Price Per SF
$507.50
Percent Leased
84%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.34
Lot Size
0.31 AC
Opportunity Zone
Yes
Zoning
T5-L
Parking
19 Spaces (4.19 Spaces per 1,000 SF Leased)
Frontage
166’ on 2nd Ave
Amenities
- Bus Line
- Signage
Walk Score®
Very Walkable (84)
Nearby Major Retailers
Property Taxes
| Parcel Number | 01-3113-063-0420 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $692,671 |
Property Taxes
Parcel Number
01-3113-063-0420
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$692,671
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Value-Add Shopping Center | 5931-5969 NW 2nd Ave
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