For Sale
$24,800,000

7007 77Th Ave Medley, FL 33166

High-Visibility Flex Space, Redevelopment Potential

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional 67,382 square foot flex space property, situated on a 5.37-acre lot in Medley, Florida, presents a unique investment opportunity. The Class B building, constructed in 1969 and renovated in 2009, boasts 180 parking spaces and is currently 100% occupied by a credit-rated tenant under a NNN lease commencing July 1, 2024, with a 1.5% annual rent bump. The property features a two-story building with a mix of office, showroom, studio, and industrial space, all under 100% HVAC. Its prime location on NW 77th Avenue offers exceptional visibility with approximately 267,000 vehicles passing daily on the adjacent Palmetto Expressway (SR 826). The property is zoned IU-1 in Miami-Dade County and offers significant redevelopment potential on an additional 1.74 acres of developable land. The asking price is $24,800,000, representing a price per square foot of $368.05 and a land value of $106 per square foot. The property's strong NOI of $1,000,000 and its location in a Qualified Opportunity Zone (QOZ) make it an attractive investment for owner-users and investors alike. A leaseback option of up to two years from the current tenant is available. This is a fee-simple ownership opportunity.

Highlights

  • Opportunity Zone Qualified Property.
  • High-traffic location with 267,000 cars daily on Palmetto Expressway (SR 826) frontage.
  • Four interconnected buildings totaling approx. 100% HVAC-equipped space, including main offices, two studios, and flex space.
  • North site offers future development potential (subject to covenant).
  • Miami-Dade County, Urban Infill location (IU-1).
  • Features state-of-the-art corporate offices and media studios.

Property Details for 7007 77Th Ave

Property type
Mixed-use properties, Industrial properties
Square Feet
67,382 SF
Class
B
Year Built/Renovated
1969/2009
Buildings
1
Stories
2
Lot Size (sq. ft)
233,917 SF

Location Insight

City
Medley
County
Miami-Dade
State
Florida
Latitude
25.8375411
Longitude
-80.3212092

FAQs

What type of property is this?
Mixed-use property - High-Visibility Flex Space, Redevelopment Potential
Where is the mixed-use property located?
The property is located at 7007 77Th Ave Medley, FL.
What is the asking price?
The asking price for this property is $24,800,000.
What are key features of this property?
This property features: Opportunity Zone Qualified Property.; High-traffic location with 267,000 cars daily on Palmetto Expressway (SR 826) frontage.; Four interconnected buildings totaling approx. 100% HVAC-equipped space, including main offices, two studios, and flex space.
How can I contact the broker?
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7007 77Th Ave
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