1525 3Rd AveMiami, FL 33136

Property Details for 1525 3Rd Ave

Year built

1941

Construction

CONCRETE

Lot size

0.08 AC

Property size (Sq ft)

2,880 SF

Zone code

6101

Property type

Office buildings

APN

01-3136-021-0911

APU

131360210911

Description

This exceptional Miami retail property, located at 1525 NW 3rd Ave, offers a compelling investment opportunity. The 2,800 square foot building, classified as Class B, boasts a strong 100% occupancy rate with a current lease in place. The single-tenant lease is a NNN (Net, Net, Net) agreement, meaning the tenant is responsible for most operating expenses, minimizing landlord responsibilities. The asking price is $2,000,000, representing a 4.00% capitalization rate. Originally constructed in 1941 as the City Club Building, the property underwent a complete renovation in 2017. Comprehensive plans and closed permits from this renovation are readily available for review. The current lease agreement covers 1400 square feet of net leasable retail space, featuring central air conditioning. The initial annual rent is $30,000 ($2,500/month), with a 5% annual increase built into the lease for the next two or three years. The building is a two-story structure situated in Miami, Florida, within Miami-Dade County, and uses zip code 33136. This property presents a rare chance to acquire a well-maintained, high-performing retail asset in a desirable Miami location. The strong tenant occupancy and lease terms, combined with the recent renovation, make this an attractive investment for discerning buyers seeking stable income and potential appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $2,818,080

  6.5%

  $2,601,310

  7%

  $2,415,500

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,102,640

  Geo Method

  $1,102,640

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,839,500

  Retail / Commercial

  $2,536,850

  Mixed-Use / Specialty

  $2,571,290

  Hospitality / Lodging

  $1,943,090

  Institutional / Educational

  $2,688,650

  Residential Income

  $3,145,720

  Multifamily

  $3,531,740

  Automotive / Energy

  $2,304,560

  Parking / Income-Based Land

  $752,313

  Restaurant / Food Service

  $1,430,150

  Healthcare / Senior Housing

  $2,592,220

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.79

Longitude

-80.1998

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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