For Sale
$2,900,000

3490 32Nd AveMiami, FL 33142

High-yield, multi-income stream property in Miami.

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional Miami mixed-use property at 3490 NW 32nd Ave, Miami, FL 33142, offers a compelling investment opportunity. The 5,927 square foot building, constructed in 1945, boasts multiple income streams. A ground floor restaurant/nightclub currently generates $9,000 in monthly revenue, while four residential units contribute an additional $7,200 monthly. This totals $220,000 in gross annual income, with potential for a 15-20% increase without significant renovations. Adding to the income stream is a leased yard used for truck parking and storage, generating $2,140 monthly. The property also includes a well-maintained CBS duplex featuring two 2-bedroom, 1-bathroom units currently rented below market value, presenting immediate upside potential. Located just blocks from Miami's main NW 36th Street corridor, this property offers substantial land banking potential and qualifies under the new Live Local SB 102 Act, allowing for increased density and building height, paving the way for a transformative high-density, mixed-use development. This is a rare chance to acquire a high-performing asset with significant future growth potential in a prime Miami location. The asking price is $2,900,000.

Highlights

  • 5,927 SF mixed-use building in Miami, FL, built in 1945.
  • Generates $220,000 in annual gross income from a restaurant/nightclub, four residential units, and a leased yard.
  • Features a well-maintained CBS duplex with two 2-bedroom, 1-bathroom units, offering immediate upside potential.
  • Located near NW 36th Street, with substantial land banking potential and qualifies under the Live Local SB 102 Act.
  • Asking price: $2,900,000.

Property Details for 3490 32Nd Ave

Property type
Mixed-use properties
Square Feet
5,927 SF
Year Built
1945

Location Insight

City
Miami
County
Miami-Dade
State
Florida
Latitude
25.8076523
Longitude
-80.2484786
3490 32Nd Ave, Miami, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
3490 32Nd Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message