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DESCRIPTION
Discover a unique investment opportunity in South Miami, near US-1 and the University of Miami. This standalone, multi-tenant building is in the City's Specialty Retail—Hometown District Overlay. Covering 6,384 SF on a 10,700 SF lot, it boasts a Floor Area Ratio (FAR) of 1.6 and permits up to 4 stories. The property features two fully equipped, second-generation restaurant spaces with complete kitchens, hood-vent systems, and walk-in coolers. An inviting outdoor courtyard enhances open-air dining. Located in an Opportunity Zone, it allows for extended operations until 4 AM without on-site parking requirements. For investors, leasing at market rates of $85.00 NNN would generate a Net Operating Income (NOI) of $542,640 and a 6% Cap Rate.,
, COOPERS SUB PB 4-152 E5FT OF S40FT & E3FT OF N31.55FT OF S71.55FT OF LOT 21 & LOT 22 LESS W2FT OF N68.45FT & ALL LOTS 23 & 24 LOT SIZE IRREG
FEATURES- Building Area Total 6384
- Building Area Units Square Feet
- City Miami
- Contract Status Change Date 2023-05-04 00:00:00
- Cooling Yes
- County Or Parish Miami-Dade County
- Current Use Retail
- Days On Market 413
- Expiration Date 2024-04-30 00:00:00
- Inclusions Building & Land
- Latitude 26
- List A O R A-Miami Association of REALTORS
- List Price 9000000
- Living Area Units Square Feet
- Longitude -80
- Lot Size Square Feet 10700
- Lot Size Units Square Feet
- Major Change Type Price Decrease
- Mls Status Active
- On Market Date 2023-05-04 00:00:00
- Original List Price 11000000
- Originating System Name miamire
- Parcel Number 09-40-25-030-0130
- Possession Funding
- Postal Code 33143
- Previous List Price 9900000
- Property Sub Type Retail
- Property Type Commercial Sale
- Public Survey Range 40
- Public Survey Section 25
- Public Survey Township 40
- Showing Instructions
See Broker Remarks
Showing Assist - Standard Status Active
- State Or Province FL
- Tax Legal Description COOPERS SUB PB 4-152 E5FT OF S40FT & E3FT OF N31.55FT OF S71.55FT OF LOT 21 & LOT 22 LESS W2FT OF N68.45FT & ALL LOTS 23 & 24 LOT SIZE IRREG
- Unparsed Address
5840 SW 71 St
Miami FL 33143 - Virtual Tour URL Unbranded https://tours.photostetic.com/5840sw71ststsouthmiamifl33143?b=0
- Water Source Public
- Year Built 2017
- Year Built Details Resale
- Zoning 6300
Tracy Mani
LISTING AGENT
Listing Provided by:
Cynthia Lamaa
RE/MAX 360 Real Estate
The multiple listing information is provided by Miami Association of REALTORS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©️2019 Miami Association of REALTORS. All Rights Reserved.
The information provided is for consumers’ personal, non- commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
