40 1St StMiami, FL 33128

Property Details for 40 1St St

Year built

1966

Lot size

0.26 AC

Zone code

6401:COMMERCIAL

Property type

Retail properties

Property subtype

Parking lots & garages

APN

01-0111-050-1040

APU

101110501040

Description

This exceptional 900-square-foot office suite, located in a beautifully preserved building in Miami-Dade County, presents a unique opportunity for a single tenant. Built in 1915 and extensively renovated in 2003, the property boasts classic architectural details blended seamlessly with modern amenities. The suite is situated on the 7th floor and offers a traditional office layout ideal for a variety of professional uses. While the building does not offer on-site parking, the convenient downtown location provides easy access to public transportation and numerous nearby parking options. The building features elevators for convenient access to all floors. The property is zoned T6-80-O, ensuring compliance with Miami-Dade County regulations. The single-tenant occupancy provides privacy and control over the space. This meticulously maintained building offers a blend of historical charm and contemporary functionality, making it an attractive option for businesses seeking a prestigious and efficient workspace in a vibrant urban setting. The property's unique character and prime location make it a highly desirable asset. The building identification number (APN) is 01-0111-060-1020. This is a rare opportunity to secure a well-maintained, historically significant office space in a thriving downtown area.

• CAP approach

  CAP return

  Valuation

  6%

  $14,214,743

  6.5%

  $13,121,301

  7%

  $12,184,065

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,805,841

  Geo Method

  $10,805,841

• Alternative Use

  Use

  Valuation

  Residential

  $11,068,309

  Hospitality

  $10,138,511

  Educational

  $8,435,122

  Medical

  $8,725,219

  Retail

  $13,121,301

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7749

Longitude

-80.1945

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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