9711 77Th AveMiami, FL 33156

Property Details for 9711 77Th Ave

Year built

1971

Construction

CONCRETE

Lot size

0.22 AC

Property size (Sq ft)

3,700 SF

Zone code

6100:COMMERCIAL,NEIGHBRHD

Property type

Retail properties

Property subtype

Other retail properties

APN

30-5002-034-0020

APU

3050020340020

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,481 square foot storefront in Miami, Florida, located at 9711 SW 77th Ave, 33156. The property, built in 1971 and renovated in 2022, sits on a 0.22-acre lot and includes 15 parking spaces. Currently operating under a Net Lease (NN) agreement with a single tenant, the lease boasts a remaining term of 7.4 years (commencing 10/19/2021 and expiring 04/30/2032), featuring 3% annual rent bumps and two 5-year lease options. The asking price is $3,628,000, representing a 6.50% cap rate with a current NOI of $235,835. This prime location benefits from high visibility and exceptional demographics, situated off Pinecrest Parkway (97,000 vehicles per day) and Palmetto Expressway (101,000 vehicles per day), providing convenient access. The property's proximity to top-performing retailers, including a high-ranking Publix and a super-regional mall, further enhances its value. The area is experiencing significant growth, evidenced by the nearby Shoma 88 mixed-use development and the University of Miami's recent acquisition of a large property in Pinecrest. This investment offers a compelling combination of strong current income, significant upside potential, and a location within one of South Florida's most affluent communities. The property's robust performance and strategic location make it an ideal addition to any diversified real estate portfolio.

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.68

Longitude

-80.3181

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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