1016 71St StMiami Beach, FL 33141

Property Details for 1016 71St St

Year built

1940

Property size (Sq ft)

1,021 SF

Zone code

6400:COMMERCIAL,CENTRAL

Property type

Retail space

APN

02-3210-057-0100

APU

232100570100

Description

This 1,204 square foot retail space, located at 1016 71st Street, presents a fantastic opportunity for a variety of businesses. Situated in a Class B building constructed in 1940, this single-tenant storefront boasts a generous open floor plan with tile flooring and abundant natural light. Its prime location ensures excellent visibility and high foot traffic. The space includes a convenient private bathroom and backdoor access for easy deliveries, along with designated storage areas. Ample nearby parking enhances accessibility for customers and employees. The property sits on a 0.28-acre lot within a 15,000 square foot building, encompassing two stories. The zoning is 6400 COMMERCIAL - CENTRAL CD-2. While previously used as a cafeteria, a new grease trap would be required for restaurant use. Some equipment is included as part of the lease terms, making this an ideal space for retail, office, or restaurant operations. Lease terms are negotiable.

• CAP approach

  CAP return

  Valuation

  6%

  $973,738

  6.5%

  $898,836

  7%

  $834,633

• Comparable approach

  Method

  Valuation

  Relative Method

  $985,068

  Geo Method

  $985,068

• Alternative Use

  Use

  Valuation

  Residential

  $758,201

  Hospitality

  $694,508

  Educational

  $577,823

  Medical

  $597,695

  Retail

  $898,836

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.8549

Longitude

-80.1289

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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