5650 2Nd AveMiami, FL 33137

Property Details for 5650 2Nd Ave

Year built

1974

Construction

CONCRETE

Lot size

0.38 AC

Property size (Sq ft)

5,432 SF

Zone code

6101

Property type

Retail properties

Property subtype

Outlet malls

APN

01-3113-065-2590

APU

131130652590

Description

This exceptional 1,500 square foot restaurant space in Miami's Little Haiti/Magic City District is available for immediate occupancy. The property boasts a turnkey setup, complete with a grease trap and two hoods, eliminating the need for extensive renovations. Situated on a busy thoroughfare, just blocks from Midtown Miami and the Design District, this location offers unparalleled visibility and high foot traffic, ensuring a strong customer base. The single-tenant space is zoned 5700 and features a total building area of 1,000 square feet, with the potential for additional outdoor seating on adjacent land (subject to necessary approvals). This presents a unique opportunity to expand the business footprint and capitalize on the vibrant outdoor dining culture. The property's APN is 01-31-13-065-2590. Located in a rapidly developing area near the Magic City development, this restaurant space is perfectly positioned to thrive. Its convenient location and turnkey condition make it an ideal investment for a variety of food concepts seeking a quick start in one of Miami's most dynamic neighborhoods. The property is ready for immediate operation, allowing for a swift transition and immediate revenue generation. Don't miss this chance to establish your culinary venture in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $5,180,556

  6.5%

  $4,782,052

  7%

  $4,440,476

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,240,832

  Geo Method

  $5,240,832

• Alternative Use

  Use

  Valuation

  Residential

  $4,033,840

  Hospitality

  $3,694,975

  Educational

  $3,074,176

  Medical

  $3,179,902

  Retail

  $4,782,052

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.8277

Longitude

-80.1923

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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