5959 7Th StMiami, FL 33126

Property Details for 5959 7Th St

Year built

1962

Construction

CONCRETE

Lot size

4.54 AC

Property size (Sq ft)

163,497 SF

Zone code

8000:COMMUNITY FACILITY

Property type

Hospitals

APN

01-3051-004-0010

APU

130510040010

Description

This exceptional 5.15-acre commercial land parcel, located at 5959 NW 7th St, Miami, FL 33126 (APN 30-3036-002-0030), presents a unique redevelopment opportunity. Zoned IU-2 - Heavy Industrial Manufacturing, this property is situated in Miami-Dade County's Waterford Business District, offering excellent market positioning. Its strategic location is directly across a canal from the former Miami Medical Center and boasts proximity to Miami International Airport (approximately 6.5 miles east of downtown Miami). The surrounding area features a strong mix of high-quality office, residential, retail, and hotel developments, with significant institutional ownership. Given the limited availability of comparable development sites in the Miami market, this parcel offers investors a prime opportunity for various uses, including potentially complementary healthcare development. The property's desirable location within a well-established business district should prove attractive to a wide range of investors seeking a strategic foothold in Miami's thriving commercial landscape. Offers are being accepted with a deadline of Thursday, August 22nd, 2024.

• CAP approach

  CAP return

  Valuation

  6%

  $45,312,456

  6.5%

  $41,826,884

  7%

  $38,839,248

• Comparable approach

  Method

  Valuation

  Relative Method

  $26,518,560

  Geo Method

  $26,518,560

• Alternative Use

  Use

  Valuation

  Residential

  $53,059,168

  Hospitality

  $48,601,912

  Educational

  $40,436,220

  Medical

  $41,826,884

  Retail

  $62,900,784

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7784

Longitude

-80.2936

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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