39 1St AveMiami, FL 33132

  • Retail properties
  • 8,100 SF
For Lease
$120/SF/YR View listing

Property Details for 39 1St Ave

Year built
1910
Construction
CONCRETE
Lot size
0.17 AC
Property size (Sq ft)
8,100 SF
Zone code
6401:COMMERCIAL
Property type
Retail properties
Property subtype
Outlet malls
APN
01-0111-070-1040
APU
101110701040

Description

This exceptional five-story, 19,491 square foot commercial property, built in 1910 and renovated in 2022, is located at 39 NE 1st Ave, Miami, FL 33132. The building sits on a 0.17-acre lot (75,000 sq ft) and offers a variety of workspace options, including traditional office suites, executive offices, and coworking spaces. Currently, there are 21 spaces available, ranging from 50 to 152 square feet. The building features a single traction elevator and one parking space. Its T6 zoning allows for diverse commercial uses. The property's prime downtown Miami location places it steps from the Miami Worldcenter Plaza, home to a future Apple Store, and is surrounded by prestigious new developments. This presents a unique opportunity to establish a business in a vibrant and rapidly growing area. The building's blend of historic charm and modern updates creates a unique and attractive workspace. The multiple tenancy structure offers flexibility for various business needs.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $10,280,305
    6.5%
    $9,489,512
    7%
    $8,811,690
  • Comparable approach

    Method
    Valuation
    Relative Method
    $7,814,938
    Geo Method
    $7,814,938
  • Alternative Use

    Use
    Valuation
    Residential
    $8,004,759
    Hospitality
    $7,332,316
    Educational
    $6,100,401
    Medical
    $6,310,203
    Retail
    $9,489,512
39 1St Ave, Miami, Florida

Location Insight

City
Miami
County
Miami-dade
State
Florida
Latitude
25.775
Longitude
-80.1917
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$71,131
$5,250,000
$274,312
$5,524,312
-
$5,250,000
$274,312
$5,524,312

FAQs

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