14 1St AveMiami, FL 33132

Exceptional opportunity to acquire a prime, multi-tenant retail property located in the heart of Downtown Miami at 14 NE 1st Ave, Miami, FL 33132. This Class A, 21,521 square foot building, constructed in 1952 and featuring two stories, currently boasts 100% occupancy with seven tenants, including First American Bank, Freshko Restaurant & Coffee Bar, City of Miami, and Metro by T-Mobile. The property is currently generating a NOI of $597,427, with a 5.69% cap rate. However, a significant value-add opportunity exists, with a pro-forma NOI projected at $950,000 and a pro-forma cap rate of 9.05%, achievable through lease renovations converting existing gross leases to NNN leases. The asking price is $10,500,000, translating to a price per square foot of $487.90. The property's strategic location offers exceptional visibility and access to a thriving urban environment, surrounded by popular restaurants and leisure destinations in both Downtown and Brickell. This is a NNN lease portfolio with credit-rated tenants. The property is ideally suited for investors seeking strong cash flow and significant upside potential in a rapidly appreciating market. This is a value-add investment opportunity with a strong tenant mix and significant potential for increased profitability.