1305 79Th StMiami, FL 33147

Property Details for 1305 79Th St

Year built

1943

Construction

CONCRETE

Lot size

0.23 AC

Property size (Sq ft)

3,149 SF

Zone code

6462

Property type

Retail properties

Property subtype

Other automotive properties

APN

30-3111-044-0060

APU

3031110440060

Description

This exceptional mixed-use property, located at 1305 NW 79th St, Miami, FL 33147, presents a unique investment opportunity. The 3,149 square foot building sits on a 18,199 square foot lot and boasts a UCMCS zoning designation, permitting six-story development. Recently renovated in 2024, the property features a new metal roof, fresh interior and exterior paint, a brand-new restroom, and a new metal fence. The electrical infrastructure has also been completely upgraded. A 2021 Derm Phase 1 Environmental Assessment revealed no environmental concerns. The single-story concrete block structure is situated in the Miami Central Urban Development District, just one mile west of I-95, on a heavily traveled section of 79th Street, near two apartment complexes. Previous leases averaged $13,000 per month, suggesting a potential gross annual cap rate of approximately 8%. The property includes four parcels and has prior business certificates of use for restaurant, mechanical, and auto sales. The building is currently vacant, offering a blank canvas for a creative investor seeking to maximize its potential. The property's prime location and recent renovations make it an attractive option for a variety of uses, from retail to multi-family development. The asking price is $2,200,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,003,235

  6.5%

  $2,772,216

  7%

  $2,574,201

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,038,178

  Geo Method

  $3,038,178

• Alternative Use

  Use

  Valuation

  Residential

  $2,338,468

  Hospitality

  $2,142,024

  Educational

  $1,782,139

  Medical

  $1,843,430

  Retail

  $2,772,216

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.847

Longitude

-80.2195

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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