2170 NW Flagler Ter Multifamily Building

The subject property is 40,917 Sq. Ft. of improved land where an apartment
building and a restaurant, both income producing properties, currently sit. The property,
located on the southeast corner of NW 22nd Avenue and NW Flagler
Terrace, provides an excellent opportunity to develop a structure for office / retail
uses. The site offers open visibility from West Flagler Street and it benefits from the
commercial and residential traffic along one of the most desired corridors in
Miami. The site’s high profile corner location is minutes away from downtown and
Miami’s financial district, and it is only 1 mile west of the new Marlins baseball
stadium. Two real estate improvements currently on the site generate income from a
22-unit apartment building, and a Cuban-food restaurant business operating since
1966.
The two-story apartment building built in 1958 offers 10,733 Sq. Ft. of rental area, a
courtyard and parking spaces around the structure. The multifamily building
property is in the process of amendment for zoning change from R-3 to C-1.
Next door of the apartment building, the “Rancho Luna” Restaurant is a familiar place
in Miami known for its traditional Cuban cuisine and memorabilia. The 2,700 Sq. Ft.
retail property is zoned C-1 and it is within the SD-26 22nd Avenue Special Overlay.