7007 77Th AveMedley, FL 33166

Property Details for 7007 77Th Ave

Year built

1969

Construction

CONCRETE

Lot size

3.64 AC

Property size (Sq ft)

30,045 SF

Zone code

7100:INDUSTRIAL,LIGHT MFG

Property type

Office buildings

APN

30-3014-010-0031

APU

3030140100031

Description

This exceptional 67,382 square foot flex space property, situated on a 5.37-acre lot in Medley, Florida, presents a unique investment opportunity. The Class B building, constructed in 1969 and renovated in 2009, boasts 180 parking spaces and is currently 100% occupied by a credit-rated tenant under a NNN lease commencing July 1, 2024, with a 1.5% annual rent bump. The property features a two-story building with a mix of office, showroom, studio, and industrial space, all under 100% HVAC. Its prime location on NW 77th Avenue offers exceptional visibility with approximately 267,000 vehicles passing daily on the adjacent Palmetto Expressway (SR 826). The property is zoned IU-1 in Miami-Dade County and offers significant redevelopment potential on an additional 1.74 acres of developable land. The asking price is $24,800,000, representing a price per square foot of $368.05 and a land value of $106 per square foot. The property's strong NOI of $1,000,000 and its location in a Qualified Opportunity Zone (QOZ) make it an attractive investment for owner-users and investors alike. A leaseback option of up to two years from the current tenant is available. This is a fee-simple ownership opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $8,518,503

  6.5%

  $7,863,233

  7%

  $7,301,574

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,237,547

  Geo Method

  $4,237,547

• Alternative Use

  Use

  Valuation

  Residential

  $9,750,409

  Hospitality

  $8,931,322

  Educational

  $7,430,756

  Medical

  $7,686,310

  Retail

  $11,558,953

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.8376

Longitude

-80.3208

CBSA code

33100

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].