3620 2Nd AveMiami, FL 33137

Property Details for 3620 2Nd Ave

Year built

1921

Construction

CONCRETE

Lot size

0.14 AC

Property size (Sq ft)

5,385 SF

Zone code

6110:COMM/RES-DESIGN DIST

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

01-3124-022-0030

APU

131240220030

Description

This exceptional free-standing building, located at 3620 NE 2nd Ave in Miami's Design District (zip code 33137), offers 5,385 square feet of retail space on a 6,195 square foot lot. The two-story structure is currently configured with four retail and creative office spaces, ideal for a flagship operation or mixed-use development. The property boasts a prominent location at the gateway to the Design District, ensuring high visibility and excellent access. Ample parking is available on-site, supplemented by over 100 nearby spaces. Zoned T6-12-O, this allows for significant development potential, including mixed-use projects up to twelve stories high. The building's prime location within Miami's vibrant art, design, and commerce hub presents a unique opportunity to establish a landmark presence. The asking price for this owner-user investment opportunity is $9,800,000. This multi-tenancy property is perfect for a variety of uses, including food and beverage establishments.

• CAP approach

  CAP return

  Valuation

  6%

  $4,332,182

  6.5%

  $3,998,937

  7%

  $3,713,299

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,195,637

  Geo Method

  $3,195,637

• Alternative Use

  Use

  Valuation

  Residential

  $3,998,937

  Hospitality

  $3,663,005

  Educational

  $3,047,577

  Medical

  $3,152,388

  Retail

  $4,740,676

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.811

Longitude

-80.1915

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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