1950 NW 17th Ave
5,752 SF Office/Retail Condo Unit Offered at $2,443,461 CAD in Miami, FL 33125
EXECUTIVE SUMMARY
• Broker LLC is pleased to present the exclusive sale of a prime commercial building located on a main street in Allapattah, Miami. This investment opportunity includes a 5,752-square-foot building on a 7,500-square-foot lot, currently leased to three tenants on annual agreements. The property generates a gross income of $104,400, with below-market rents offering potential for increased returns. The current cap rate stands at 4.02%, with a scheduled cap rate of 6.63%. Rents are below market rents, assuring room for revenue growth. All tenants have independent water and electrical meters, and the roof is well maintained. Allapattah is a sought-after commercial area with proximity to Wynwood, downtown Miami, and major employment centers. This is a rare opportunity to acquire a high-potential investment in a thriving market.
PROPERTY FACTS
| Price | $2,443,461 CAD |
| Unit Size | 5,752 SF |
| No. Units | 1 |
| Total Building Size | 5,752 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Office |
| Sale Type | Investment |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 5,752 SF |
| Year Built | 1949 |
| Lot Size | 0.20 AC |
1 UNIT AVAILABLE
Unit 1950
| Unit Size | 5,752 SF |
| Price | $2,443,461 CAD |
| Price Per SF | $424.80 CAD |
| Condo Use | Office/Retail |
| Sale Type | Investment |
| Cap Rate | 4.02% |
| NOI | $98,227.13 CAD |
DESCRIPTION
Currently, tenants pay for utilities.
SALE NOTES
Retail/Office Strip Center for sale in Allapattah
NEARBY MAJOR RETAILERS
ZONING
| Zoning Code | T6-8-O (Miami 21 Zoning Code prioritizes building form (shape and bulk) over the regulation of use to allow for mixed-use development.) |
