DEVELOPMENT OPPORTUNITY WITH HIGH TRAFFIC VISIBILITY, MIAMI, FL

$1,200,000
For sale

4926

Property ID

6,216 SqFt

Size

Description

8043 N Miami Ave is a mixed use property containing (1) one-bathroom apartment (1) 4 bedroom apartment and (2) retail spaces located in Miami, FL, which is in Miami-Dade County.​

The subject property is a one-story building built in 1937 using reinforced concrete block construction with painted stucco exterior.​

The property is located at 8043 N Miami Ave, north of NW 76th St, south of NW 82th St,

and between I-95 and Biscayne Blvd, main traffic arteries traveling north-south through Miami-Dade County.​

The immediate neighborhood consists of primarily multi-family buildings of similar age and construction as the subject property.​

The property is also located within walking distance of many major retailers.​

The investment opportunity consists of unit mix of Its (1) one-bathroom apartment (1) 4 bedroom apartment

and (2) retail spaces totaling approximately 3,680 RSF.​

The property is located in an opportunity zone.​

8043 N Miami Ave offers an investor the opportunity to purchase an irreplaceable investment property

in one of the strongest rental markets in Miami-Dade County, where vacancies are virtually non-existent.​

This investment provides the opportunity to build on a primely located lot of 6,216 sq ft.​

The property is zoned for T5-O.​

HIGHLIGHTS

  • ​Value-add opportunity to raise rents upwards of 50%+
  • ​Proforma Gross Potential Rent: $111,600
  • Opportunity Zone, Value add opportunity, Close proximity to EL Portal (1/2 mile)
  • ​Five minutes from I-95, 20 minutes from the Airport
  • ​Duplex features brand new roof, new windows and updated floors
  • Traffic count of 39,501 VPD at intersection of N Miami Ave and NE 79th St, Dense Trade Area with 193,000 residents
  • ​Up and coming neighborhood experiencing gentrification
  • ​Zoned : T5-O Density: 65 du/acre max Max. Building Height: 5 Stories

For More Development Opportunities Options

Address

Address: 8043 N Miami Ave, Miami, FL 33150
  • Country: United States
  • Province / State: Florida
  • City / Town: Miami
Open on Google Maps
  • Property ID 4926
  • Price $1,200,000
  • Property Type Development opportunities, Multifamily
  • Property status For sale
  • Year Built 1954
  • Size 6,216 SqFt
  • Units 4
  • Cap Rate 3.89%
  • Zoning T5-0
  • Lot Area 0.14(acres)
  • Price Per Sqft $193.05
  • Subtype Apartment Building
  • Investment Type Value Add
  • Class C
  • Net Rentable (sq ft) 3,680
  • Occupancy 100%
  • NOI $46,734
  • Buildings 1
  • Stories 1
  • APN 01-3112-013-0330
  • Price/Unit $300,000

Contact

Zena Bardawell Farah

Property Agent
+1 305-967-7200
Other Properties