5840 71St StSouth Miami, FL 33143

Property Details for 5840 71St St

Year built

1947

Construction

CONCRETE

Lot size

0.25 AC

Property size (Sq ft)

6,285 SF

Zone code

6300:COMMERCIAL,RESTRICT

Property type

Retail properties

Property subtype

Turn key restaurants

APN

09-4025-030-0130

APU

940250300130

Description

This 3,192 sq ft South Miami restaurant space offers a fully equipped kitchen, including state-of-the-art hood-vent systems and walk-in coolers. Located in a prime Opportunity Zone, this multi-tenant building boasts extended operating hours (until 4 AM) and benefits from significant nearby development, including the Avalon South Miami and the redeveloped Shops at Sunset Place, bringing increased foot traffic and a vibrant atmosphere. Priced at $70/SF NNN with $150,000 key money, this turnkey opportunity minimizes startup costs and allows for immediate operation. The property sits on 0.25 acres and was built in 2017, renovated in 2019, and is zoned to allow for extended operating hours. The property's location in Miami-Dade County, within the South Miami submarket, offers excellent access to a dense population and high consumer spending. The addition of 290 luxury apartments and 31,000 square feet of retail space at Avalon South Miami, along with the 1,500 residential units, 287-room hotel, office space, and expanded dining and retail options at the redeveloped Shops at Sunset Place, promises significant future growth in the area. This presents a unique opportunity for restaurateurs to establish themselves in a thriving and rapidly developing community. The property's address is 5840 SW 71st St, South Miami, FL 33143. The Miami-Dade County APN is 09-4025-030-0130.

• CAP approach

  CAP return

  Valuation

  6%

  $6,445,636

  6.5%

  $5,949,818

  7%

  $5,524,830

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,017,513

  Geo Method

  $5,017,513

• Alternative Use

  Use

  Valuation

  Residential

  $5,018,894

  Hospitality

  $4,597,280

  Educational

  $3,824,883

  Medical

  $3,956,426

  Retail

  $5,949,818

Location Insight

City

South Miami

County

Miami-dade

State

Florida

Latitude

25.7049

Longitude

-80.2882

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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