908 71St StMiami Beach, FL 33141

Property Details for 908 71St St

Year built

1946

Construction

CONCRETE

Lot size

0.07 AC

Property size (Sq ft)

1,848 SF

Zone code

6400:COMMERCIAL,CENTRAL

Property type

Retail properties

Property subtype

Turn key restaurants

APN

02-3210-013-0520

APU

232100130520

Description

This thriving Italian gourmet restaurant and bar is available for purchase at $125,000. Located at 908 NE 71st Street in Miami Beach, Florida (zip code 33141), this established business boasts a prime location just one block from the beach, placing it in the heart of a popular tourist area. The property is a retail space with an existing, well-regarded reputation, evidenced by positive reviews across various social media platforms including Instagram and Facebook. The business comes complete with trained employees, minimizing the need for extensive initial staffing. Operating costs are kept low thanks to a favorable lease agreement. The current menu is well-established and easily managed, offering a seamless transition for a new owner. This presents an exceptional opportunity for individuals seeking a new culinary venture, those looking to expand their existing restaurant concepts, or even those wishing to transform a passion into a profitable business. The business's established success may also qualify for certain visa programs; interested parties are encouraged to seek legal counsel for further information regarding visa eligibility. This is a rare chance to acquire a profitable, well-positioned restaurant and bar in a highly desirable Miami Beach location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,762,457

  6.5%

  $1,626,884

  7%

  $1,510,678

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,782,964

  Geo Method

  $1,782,964

• Alternative Use

  Use

  Valuation

  Residential

  $1,372,337

  Hospitality

  $1,257,054

  Educational

  $1,045,854

  Medical

  $1,081,822

  Retail

  $1,626,884

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.8555

Longitude

-80.128

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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