777 79Th StMiami, FL 33138

Property Details for 777 79Th St

Year built

1971

Construction

CONCRETE

Lot size

0.29 AC

Property size (Sq ft)

6,025 SF

Zone code

6101

Property type

Office buildings

APN

01-3207-016-3301

APU

132070163301

Description

This exceptional 5,177 square foot mixed-use property, located at 777 NE 79th St in Miami, Florida, presents a unique investment opportunity. Situated on a 0.29-acre lot in Miami-Dade County (APN: 01-32-07-016-3301), this single-story, Class C building boasts over 100 feet of frontage on NE 79th Street, offering unparalleled visibility. Built in 1979 and extensively renovated in 2022, including a new roof and 40-year recertification, the property is currently vacant and ready for immediate occupancy. The flexible layout allows for diverse uses, including retail, office, restaurant, bar, nightclub, or special event space. Multiple entrances and high ceilings enhance its versatility. The property's prime location east of Biscayne Bay, across from the marina, provides excellent exposure to high traffic volume. Three covered parking spaces are a significant advantage in this area. Zoned 6101, this property is ideally positioned to capitalize on the growth of nearby new residential developments and its proximity to major arteries like Biscayne Boulevard (US1) and I-95, providing easy access to Miami Beach. Offered at $3,900,000 with a NNN lease type.

• CAP approach

  CAP return

  Valuation

  6%

  $3,908,916

  6.5%

  $3,608,230

  7%

  $3,350,499

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,306,732

  Geo Method

  $2,306,732

• Alternative Use

  Use

  Valuation

  Residential

  $4,474,206

  Hospitality

  $4,098,348

  Educational

  $3,409,778

  Medical

  $3,527,045

  Retail

  $5,304,098

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.8482

Longitude

-80.1802

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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