42 27Th AveMiami, FL 33125

Property Details for 42 27Th Ave

Year built

1972

Construction

CONCRETE

Lot size

0.49 AC

Property size (Sq ft)

67,055 SF

Zone code

6100:COMMERCIAL,NEIGHBRHD

Property type

Office properties

Property subtype

Office buildings

APN

01-4104-021-0020

APU

141040210020

Description

This exceptional Miami office building at 42 NW 27th Ave offers a variety of spaces to lease, perfect for businesses seeking flexible and modern work environments. The property, totaling 67,055 square feet, boasts newly renovated suites with updated flooring, air conditioning, and baseboards. Multiple configurations are available, with a minimum leasable space of 1,000 square feet and a maximum contiguous space of 13,581 square feet currently available. The building features four stories, 88 parking spaces, and elevators for convenient access. Located in Miami-Dade County, Florida, (zip code 33125), this property benefits from a T6-8-O zoning designation. The building underwent renovations in 2023, offering tenants modern amenities. Utilities are included in the gross lease rate, plus sales tax. Landlord incentives include free rent concessions during tenant build-out periods. Currently, 13,581 square feet is vacant, primarily located on the third floor, offering exceptional city views. The building sits on a 21,250 square foot lot and was originally constructed in 1972. This property is ideal for traditional, medical, or creative office uses. Ample parking is available at ground level. The property is conveniently located and offers a variety of lease options to suit diverse business needs.

• CAP approach

  CAP return

  Valuation

  6%

  $57,894,168

  6.5%

  $53,440,772

  7%

  $49,623,572

• Comparable approach

  Method

  Valuation

  Relative Method

  $25,672,678

  Geo Method

  $25,672,678

• Alternative Use

  Use

  Valuation

  Residential

  $66,266,556

  Hospitality

  $60,699,808

  Educational

  $50,501,528

  Medical

  $52,238,352

  Retail

  $78,557,936

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.773

Longitude

-80.2395

CBSA code

33100

CBSA name

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

Property Tax & Assessments

FAQs

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