1876 7Th St Miami, FL 33125

This exceptional redevelopment opportunity encompasses three contiguous properties totaling 49,000 square feet in Miami's vibrant Little Havana neighborhood. The site currently includes a mix of office and multi-family buildings, offering immediate income streams. One office building (18,000 sq ft) is under a NNN lease with a security company until 2027, generating approximately $624,000 in annual income. A second office building (4,000 sq ft) is vacant, presenting potential for additional rental income. A third building is a fully leased triplex generating approximately $49,000 annually. The properties are zoned T6-8-O, permitting the construction of a multi-family building up to eight stories high, with a maximum of 168 units. A land use attorney has indicated a high likelihood of exceeding this unit count. The current NOI is $673,000, with a pro-forma NOI of $793,000, reflecting a current cap rate of 6.75% and a pro-forma cap rate of 7.95%. The property boasts 92% occupancy across 168 units spread across three buildings and eight stories. The asking price is $9,975,000, with seller financing available to qualified buyers. The strategic location, less than a mile from the 836 Expressway and a short drive from Miami International Airport, positions this development for significant future growth within a submarket experiencing continuous rental growth and low vacancy rates. The land value is $204 per square foot.