7600 7Th AveMiami, FL 33150

Property Details for 7600 7Th Ave

Year built

1945

Construction

CONCRETE

Lot size

0.32 AC

Property size (Sq ft)

8,986 SF

Zone code

7000:INDUSTRIAL,GENERAL

Property type

Retail properties

Property subtype

Outlet malls

APN

01-3111-035-1500

APU

131110351500

Description

This exceptional 8,560-square-foot flex/industrial property in Miami, Florida, presents a compelling investment opportunity. Located at the high-traffic intersection of NW 7th Ave and 76th Street, it boasts excellent visibility and accessibility near major highways and thriving districts like the Design District, Wynwood, and Midtown. The property, built in 1945 and extensively renovated in 2024, features a new roof, upgraded electrical systems, and new flooring, along with a 40-year certification. The two-story building includes two updated downstairs bathrooms, three upstairs offices with bathrooms, and 18 parking spaces within a secure gated area. The 14,000-square-foot lot offers 47,600 square feet of air rights. Currently vacant, the property is ready for immediate occupancy, offering 3,000 to 8,519 square feet of flexible space. The D1 zoning allows for diverse uses, including retail, industrial, and automotive. The property includes one loading dock and one dock-high door, with 14-foot ceilings. Three gas pumps are also on the property. The asking price is $2,650,000, representing a price per square foot of $309.58 and a land value of $175 per square foot. The property's Net Operating Income (NOI) is $162,640, resulting in a 6.14% cap rate. Rent bumps are included in the lease terms. This fee-simple ownership offers significant potential for both owner-users and investors seeking a strong return in a high-demand Miami market. The property is currently vacant with an occupancy date of October 7, 2024.

• CAP approach

  CAP return

  Valuation

  6%

  $8,570,043

  6.5%

  $7,910,810

  7%

  $7,345,752

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,669,757

  Geo Method

  $8,669,757

• Alternative Use

  Use

  Valuation

  Residential

  $6,673,064

  Hospitality

  $6,112,490

  Educational

  $5,085,520

  Medical

  $5,260,419

  Retail

  $7,910,810

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.8443

Longitude

-80.2094

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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