937 3Rd AveMiami, FL 33136

Property Details for 937 3Rd Ave

Year built

1954

Construction

CONCRETE

Lot size

0.13 AC

Property size (Sq ft)

6,304 SF

Zone code

6100:COMMERCIAL,NEIGHBRHD

Property type

Retail properties

Property subtype

Outlet malls

APN

01-0102-060-1070

APU

101020601070

Description

This exceptional Overtown, Miami property at 937 NW 3rd Ave offers a unique blend of traditional and modern office space. The 6,304 square foot building, constructed in 1954 and renovated in 2017, boasts a Class A designation and features 12 suites across two stories. The property includes a variety of spaces to suit diverse needs, ranging from 100 to 500 square feet, including street-level retail space, semi-private offices, a photo studio, podcast sets, media production rooms, conference rooms, multi-use classrooms, and a community garden. Amenities include a kitchen, break area, and a private courtyard. The building benefits from an on-site off-street parking lot, providing convenient access for tenants and visitors. Located in the vibrant Overtown submarket, this property offers easy access to public transportation, including the Tri-Rail and Metro station, and is surrounded by a diverse mix of businesses, restaurants, and entertainment venues. The building's historic charm, featuring exposed brick walls and original hardwood floors, is complemented by modern updates and high ceilings, creating an inspiring and productive work environment. The 0.11-acre lot (5,750 square feet) and the presence of an elevator add to the property's appeal. This is an ideal location for businesses seeking a unique and well-equipped space in a thriving Miami neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $8,000,870

  6.5%

  $7,385,418

  7%

  $6,857,888

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,082,144

  Geo Method

  $6,082,144

• Alternative Use

  Use

  Valuation

  Residential

  $6,229,876

  Hospitality

  $5,706,534

  Educational

  $4,747,769

  Medical

  $4,911,052

  Retail

  $7,385,418

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7833

Longitude

-80.1995

CBSA code

33100

CBSA name

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

Property Tax & Assessments

FAQs

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