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701-709 NE 79th St 2,780 SF 100% Leased Retail Building Miami, FL 33138 $4,500,000 ($1,618.71/SF) 4.53% Cap Rate
Executive Summary
Lease is for 10 years and has 5% increases per year and is NN. years 6-10 start at $23,000 per month with 5% a year increases annually. Property comes with a 4cop liqour license included in the sale. Prime corner in a very up and coming area of shore crest with little river across the street, a lot of development going on 79 st and surrounding areas.18,000 sq ft parcel 3 folios.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,780 SF
Building Class
B
Year Built
1944
Price
$4,500,000
Price Per SF
$1,618.71
Cap Rate
4.53%
NOI
$204,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.16
Lot Size
0.41 AC
Zoning
T5-O - 18,000 sq ft parcel 3 folios.
Parking
16 Spaces (5.76 Spaces per 1,000 SF Leased)
Frontage
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $15,400 | |
| Land Assessment | $1,346,042 | Total Assessment | $2,004,942 |
Property Taxes
Parcel Numbers
Land Assessment
$1,346,042
Improvements Assessment
$15,400
Total Assessment
$2,004,942
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Presented by
Riverside district development llc
701-709 NE 79th St
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