For Sale
$7,999,999

5840 71St St South Miami, FL 33143

Prime location, two restaurant spaces

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional 6,384 sq ft multi-tenant retail building, situated on a 10,700 sq ft lot in South Miami, presents a lucrative investment opportunity. Built in 2017, the property boasts two fully equipped, second-generation restaurant spaces, each featuring complete kitchens, modern hood-vent systems, and walk-in coolers. An attractive outdoor courtyard complements the open-air dining experience. Located within South Miami's Specialty Retail - Hometown District Overlay, the property offers flexible usage and development potential. Its designation as an Opportunity Zone provides potential tax incentives. The property benefits from no on-site parking requirements and extended operating hours until 4 AM. This prime location, just off US-1 and near the University of Miami, is experiencing significant revitalization. Nearby developments, including the redevelopment of Sunset Place and AvalonBay's Avalon South Miami project (completion expected by the end of 2025), will bring increased residential and retail activity to the area. The asking price is $7,999,999. The property's APN is 0940250300130. This is a unique chance to capitalize on South Miami's growth and demand.

Highlights

  • Prime South Miami location, near US-1 and University of Miami, offering exceptional investment potential.
  • 6,384 SF building on a 10,700 SF lot, zoned for flexible use and future development in South Miami's Specialty Retail - Hometown District Overlay.
  • Two fully equipped, second-generation restaurant spaces with kitchens, hood systems, and walk-in coolers; plus an outdoor courtyard.
  • Opportunity Zone location provides tax incentives, flexible operating hours (until 4 AM), and no on-site parking requirements.
  • Benefits from Sunset Place redevelopment and the upcoming Avalon South Miami project (290 luxury apartments & 31,000 SF retail, completion 2025).

Property Details for 5840 71St St

Property type
Retail properties, Restaurants
Square Feet
6,384 SF
Year Built
2017

Location Insight

City
South Miami
County
Miami-Dade
State
Florida
Latitude
25.705177069639
Longitude
-80.288313659602

FAQs

What type of property is this?
Retail property - Prime location, two restaurant spaces
Where is the retail property located?
The property is located at 5840 71St St South Miami, FL.
What is the asking price?
The asking price for this property is $7,999,999.
What are key features of this property?
This property features: Prime South Miami location, near US-1 and University of Miami, offering exceptional investment potential.; 6,384 SF building on a 10,700 SF lot, zoned for flexible use and future development in South Miami's Specialty Retail - Hometown District Overlay.; Two fully equipped, second-generation restaurant spaces with kitchens, hood systems, and walk-in coolers; plus an outdoor courtyard.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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5840 71St St
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