11720 2Nd AveMiami, FL 33161

Property Details for 11720 2Nd Ave

Year built

1956

Construction

CONCRETE

Lot size

0.43 AC

Property size (Sq ft)

3,996 SF

Zone code

6400:COMMERCIAL,CENTRAL

Property type

Retail properties

Property subtype

Drive through restaurants

APN

30-2136-025-0830

APU

3021360250830

Description

This exceptional Miami Shores property, located at 11720-11740 NE 2nd Ave, offers a unique blend of immediate income and significant long-term development potential. Currently housing the established Mama Jennie's Italian Restaurant, the 40,329 square foot site includes a 3,859 square foot restaurant building with a fully permitted kitchen and bar, plus a 628 square foot office/storage structure. The property boasts approximately 25 surface parking spaces and benefits from high visibility, with an estimated 7,200 daily drivers passing by. Its location adjacent to Barry University and Miami Country Day School provides excellent access to a substantial population base. Zoned BU-1, the site presents a compelling opportunity under Miami-Dade County's Live Local Act, potentially supporting up to 250 residential units per acre for workforce housing, along with ground-floor retail. This presents a strong value-add opportunity for an operator or developer seeking a prime location in a thriving Miami neighborhood. The asking price is $3,750,000, translating to $92.99 per square foot. Seller financing is available.

• CAP approach

  CAP return

  Valuation

  6%

  $3,811,028

  6.5%

  $3,517,872

  7%

  $3,266,595

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,855,370

  Geo Method

  $3,855,370

• Alternative Use

  Use

  Valuation

  Residential

  $2,967,456

  Hospitality

  $2,718,174

  Educational

  $2,261,489

  Medical

  $2,339,265

  Retail

  $3,517,872

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.8829

Longitude

-80.1946

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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