900 36Th St Miami, FL 33127

This 11,193 square foot shopping center, located at 900 NW 36th St, Miami, FL 33127, presents a compelling value-add opportunity. Built in 1988 and renovated two years ago, this single-story, Class B property sits on a 22,800 square foot lot and boasts full 36th Street frontage. Currently housing six tenants with an 86% occupancy rate, the property offers a current NOI of $121,200 and a cap rate of 2.33%. However, a pro-forma analysis projects a significantly higher NOI of $287,814 and a 5.54% cap rate, reflecting the potential for increased income through lease renewals at market rates. The property features multiple grease traps, walk-in coolers, a hood system, a recently re-sealed roof, and new electrical systems. Zoned T5-L, this multi-tenant retail center benefits from its location west of I-95, experiencing growth fueled by nearby developments like the Midtown complex and Wynwood Norte District. The asking price is $5,199,000 ($464.49/sq ft), with a land value of $228/sq ft. Seller financing may be available. The current leases have one year remaining. This is a rare opportunity to capitalize on the westward expansion of Miami's retail market.