1240 29Th StMiami, FL 33142

Property Details for 1240 29Th St

Year built

1946

Construction

CONCRETE

Lot size

0.16 AC

Property size (Sq ft)

3,920 SF

Zone code

7000:INDUSTRIAL,GENERAL

Property type

Retail properties

Property subtype

Other automotive properties

APN

01-3126-039-1860

APU

131260391860

Description

This exceptional 3,920-square-foot warehouse, situated on a 7,085-square-foot lot in Miami's Allapattah neighborhood (33142), presents a compelling owner-user opportunity. Priced at $1,600,000, the property boasts a multi-tenant configuration, already divided into two separate spaces, offering immediate flexibility. A brand-new roof, complete with a warranty, ensures long-term cost savings. Ample on-site rear parking provides convenient access. The property's D1 zoning permits a variety of uses, including retail, warehouse, or office operations, making it highly adaptable to diverse business needs. Its prime location offers easy access to Wynwood and is just blocks from popular destinations like Hometown BBQ, Superblue, and the Rubell Museum, providing excellent visibility and potential for increased rental income as market rents rise. This is an ideal investment for an owner-user seeking a versatile and well-located property with significant upside potential. All information should be independently verified.

• CAP approach

  CAP return

  Valuation

  6%

  $4,220,268

  6.5%

  $3,895,632

  7%

  $3,617,373

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,782,044

  Geo Method

  $3,782,044

• Alternative Use

  Use

  Valuation

  Residential

  $3,286,112

  Hospitality

  $3,010,060

  Educational

  $2,504,335

  Medical

  $2,590,463

  Retail

  $3,895,632

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.803

Longitude

-80.2162

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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