681 108Th St Miami, FL 33168

This exceptional Miami retail property, located at 681 NW 108th St, offers a compelling investment opportunity. The 11,133 square foot, two-story building sits on a 0.26-acre lot (APN 3021360182560) and boasts 7,912 square feet of net rentable space, currently divided into thirty-three individual salon suites ranging from 90 to under 200 square feet each. The property is zoned 6062 and was built in 1972. Currently, the second floor is fully leased, while the first floor is in the lease-up phase. Once fully stabilized, the property is projected to generate $500,000 in annual gross income. The strategic location adjacent to I-95, with its daily traffic of approximately 240,000 vehicles, provides exceptional visibility and accessibility. The asking price is $4,850,000 ($435.64/sq ft, $2,425,000/unit), representing a fee simple ownership. Furthermore, the property presents significant redevelopment potential, allowing for expansion up to four stories. This is a rare chance to acquire a high-income-generating retail property with substantial upside in a prime Miami location.