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Office building in the City of Miami Gardens
$3,950,000
For sale
4005
Property ID
13,684 SqFt
Size
Description
Marcus & Millichap is proud to present for sale 194 NW 187th St, a freestanding 13,684 square foot office building situated on 1.32 acres of land, located in the City of Miami Gardens.
This office building was constructed in 1985 and has been exceptionally maintained throughout the current ownership tenure.
Currently there are 47 surface spaces with a parking ratio of 3.43 per 1000 SF.
For those looking to redevelop, zoning allows opportunities to transition to a triple net, single tenant property at approximately $20 per SF.
The current zoning is Neighborhood Commercial (NC).
Miami Gardens is home to the Hard Rock Stadium, St. Thomas University, and Calder Racetrack.
The city is bordered by North Miami Beach from the east, Opa-Locka to the south, and by Broward County from the north.
This property is conveniently located within 10 minutes of public transportation, 5 minutes to I-95, and 20 minutes to Fort Lauderdale International Airport.
Over 60,000 vehicles per day drive along NW 2nd Ave, one block from the subject property.
This is a corner lot with 450 feet of frontage on NW 1st Avenue and NW 187th St.
Miami Gardens continues to attract international buyers, big businesses, and real estate developers.
Highlights
- 47 surface spaces with a parking ratio of 3.43 per 1000 SF
- Current Zoning is Neighborhood Commercial (NC)
- Corner lot with frontage toward NW 1st Avenue and NW 187th St of 450 feet
- Close Proximity to Aventura and North Miami Beach
Address
Address:
194 NW 187th St, Miami, FL 33169
- Country: United States
- Province / State: Florida
- City / Town: Miami
- Property ID 4005
- Price $3,950,000
- Property Type Office
- Property status For sale
- Year Built 1985
- Size 13,684 SqFt
- Zoning Neighborhood Commercial (NC)
- Lot Area (acres) 1.32
- Price Per Sqft $288.66
- Investment Type Value Add
- Class B
- Tenancy Vacant
- Pro-Forma Cap Rate 6.93%
- Occupancy Vacant
- Pro-Forma NOI $273,681
- Buildings 1
- Stories 2
- APN 34-2101-000-0112