39 1St AveMiami, FL 33132

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

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.

• 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

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

FAQs

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