702 5Th AveMiami, FL 33136

Property Details for 702 5Th Ave

Year built

1947

Construction

CONCRETE

Lot size

0.17 AC

Property size (Sq ft)

6,431 SF

Zone code

6101

Property type

Outlet malls

APN

01-0104-090-1240

APU

101040901240

Description

This exceptional 6,431-square-foot retail space, located at 702 NW 5th Ave in Miami, Florida, presents a unique opportunity for a discerning tenant. Situated on a 7,500-square-foot lot in Miami-Dade County, this single-tenant property boasts a prime location at the nexus of Brickell, Downtown, River, and Health districts – experiencing significant growth. Built in 1947, this one-story building is fully built-out and ready for immediate occupancy. Its versatile design is perfectly suited for a variety of uses, including a gallery, showroom, entertainment venue, or flexible office space. The property's turnkey condition eliminates the need for extensive renovations, allowing for a swift and efficient transition. The strategic location offers unparalleled access to a vibrant and expanding urban core, providing exceptional visibility and accessibility for any business. This is an ideal opportunity for businesses seeking a high-profile location in a thriving Miami neighborhood, offering immediate access to a dense population and significant foot traffic. The property's size and layout provide ample space for a variety of configurations, catering to the specific needs of a diverse range of potential tenants. This is a rare chance to secure a well-established space in a rapidly developing area of Miami. The zip code is 33136.

• CAP approach

  CAP return

  Valuation

  6%

  $6,136,820

  6.5%

  $5,664,760

  7%

  $5,260,130

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,560,660

  Geo Method

  $2,560,660

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $10,806,500

  Mixed-Use / Specialty

  $5,741,660

  Hospitality / Lodging

  $4,338,890

  Office

  $5,808,680

  Institutional / Educational

  $6,003,710

  Residential Income

  $7,024,350

  Multifamily

  $7,886,330

  Automotive / Energy

  $5,146,040

  Parking / Income-Based Land

  $1,679,900

  Restaurant / Food Service

  $3,193,510

  Healthcare / Senior Housing

  $5,788,390

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7808

Longitude

-80.2032

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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