16855 37Th AveMiami Gardens, FL 33056

Property Details for 16855 37Th Ave

Year built

1963

Construction

CONCRETE

Lot size

0.48 AC

Property size (Sq ft)

3,190 SF

Zone code

6500:COMMERCIAL,CLASSIF

Property type

Retail properties

Property subtype

Other automotive properties

APN

34-2109-001-0450

APU

3421090010450

Description

This exceptional Miami Gardens investment opportunity presents a prime 7.2 million dollar multifamily development site at 16855 NW 37th Ave, Miami-Dade County, Florida, 33056. The property, built in 1963, currently operates as an automotive repair and sales business, but holds significant potential for redevelopment. The property is approved for low-income housing, allowing for the construction of up to 84 units. The current zoning is BU13 (Business Use). The sale includes two folios and encompasses a substantial land area, which includes an adjacent lot to the south. The total square footage advertised includes both parcels. This presents an excellent opportunity for owner-developers seeking a high-return project. The property's location may also benefit from its proximity to a Transit Development Corridor, offering further potential for increased value and demand. The property is situated at latitude 25.9273328 and longitude -80.2603678. This is a rare chance to acquire a large parcel in a rapidly growing area with approved plans for significant density. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,261,440

  6.5%

  $1,164,406

  7%

  $1,081,234

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,133,792

  Geo Method

  $1,133,792

• Alternative Use

  Use

  Valuation

  Residential

  $982,220

  Hospitality

  $899,708

  Educational

  $748,547

  Medical

  $774,290

  Retail

  $1,164,406

Location Insight

City

Miami Gardens

County

Miami-dade

State

Florida

Latitude

25.9272

Longitude

-80.2604

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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