This exceptional 4,200 square foot restaurant space, located at 940 71st Street in Miami Beach's North Beach submarket, presents a unique opportunity. Situated on a 6,000 square foot lot, this corner property boasts significant street visibility and exposure on busy 71st Street. Currently vacant, the space is adaptable to various uses, including restaurant, retail, or office, and can be subdivided to a minimum of 2,000 square feet. The zoning is CD-1. The property features a large interior dining area with the potential for outdoor seating. Its "raw" condition allows for complete customization to suit a tenant's specific needs. Municipal parking is available. The property's APN is 02-3210-013-0460. This is a second-generation restaurant space offering a blank canvas for a new concept. The location offers excellent visibility and exposure, making it an ideal spot for a business seeking high foot traffic and brand recognition in a vibrant Miami Beach neighborhood. The property is located in the North Beach submarket of Miami Beach, Florida, zip code 33141. Owners are motivated to create a lease that meets tenant requirements.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$5,090,907
6.5%
$4,699,299
7%
$4,363,634
Comparable approach
Method
Valuation
Relative Method
$5,150,141
Geo Method
$5,150,141
Alternative Use
Use
Valuation
Residential
$3,964,034
Hospitality
$3,631,034
Educational
$3,020,978
Medical
$3,124,874
Retail
$4,699,299
Location Insight
City
Miami Beach
County
Miami-dade
State
Florida
Latitude
25.8552
Longitude
-80.1285
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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