3701 79Th StMiami, FL 33147

Property Details for 3701 79Th St

Year built

1935

Construction

CONCRETE

Lot size

0.21 AC

Property size (Sq ft)

2,516 SF

Zone code

7100:INDUSTRIAL,LIGHT MFG

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

04-3108-002-1301

APU

431080021301

Description

This 9,000 square foot lot in Hialeah, Florida, presents a compelling redevelopment opportunity. Currently zoned M1- TOD District, the property features a 3,000 square foot, single-story warehouse built in 1935 with a 20-foot ceiling height. The existing structure offers potential income during the redevelopment phase, with a current occupancy rate of 6%. The property's location within a Transit Oriented Development (TOD) district, coupled with its proximity to major highways, transportation hubs, and Miami International Airport, makes it ideal for a mixed-use development project. Significant redevelopment projects are underway in the surrounding area, further enhancing the property's value and potential. The asking price is $4,000,000, representing a 6.00% cap rate. This is a rare chance to capitalize on the growth of multifamily and commercial development in East Hialeah, with the potential to create high-end residential and commercial units. The property's 9,000 square foot lot provides ample space for a substantial project. This NNN net lease property presents a unique investment opportunity for those seeking a high-return redevelopment project in a rapidly growing area.

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.8458

Longitude

-80.2583

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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