210 22Nd AveMiami, FL 33135

Property Details for 210 22Nd Ave

Year built

1946

Construction

CONCRETE

Lot size

0.14 AC

Property size (Sq ft)

2,201 SF

Zone code

6100:COMMERCIAL,NEIGHBRHD

Property type

Retail properties

Property subtype

Outlet malls

APN

01-4103-036-0410

APU

141030360410

Description

This exceptional mixed-use property at 210 SW 22nd Ave, Miami, FL, presents a lucrative investment opportunity. The 2,201 square foot building sits on a 0.14-acre lot and offers a blend of commercial and residential spaces. Currently, the commercial space is occupied by a thriving motorcycle/motorsports shop, generating a monthly income of $1,750. In addition to the commercial space, the property includes three efficiency apartments. One apartment generates $900 in monthly rent, another brings in $900, and the third provides $425 monthly. The property's operating expenses are manageable, with monthly electricity costs averaging $400 and water expenses at $350. It's important to note that there are no active leases in place, offering flexibility for the new owner to establish their own rental agreements. This property is ideal for investors seeking a strong return on investment in a vibrant Miami location. The building's versatile layout and existing income streams make it an attractive proposition for both seasoned investors and those new to the commercial real estate market. The current tenants should not be disturbed. This prime Miami location offers significant potential for future growth and appreciation. The property is being offered at $1,199,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,793,451

  6.5%

  $2,578,570

  7%

  $2,394,386

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,123,541

  Geo Method

  $2,123,541

• Alternative Use

  Use

  Valuation

  Residential

  $2,175,120

  Hospitality

  $1,992,398

  Educational

  $1,657,652

  Medical

  $1,714,661

  Retail

  $2,578,570

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7706

Longitude

-80.2312

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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