40 8Th AveMiami, FL 33130

Property Details for 40 8Th Ave

Year built

1948

Construction

CONCRETE

Lot size

0.10 AC

Property size (Sq ft)

5,889 SF

Zone code

6110:COMM/RES-DESIGN DIST

Property type

Retail residential properties

APN

01-4138-003-3040

APU

141380033040

Description

This exceptional retail property, located at 40 SW 8th Ave in Miami, Florida, presents a lucrative investment opportunity. Built in 1972, this single-story building comprises approximately 1800 square feet of retail space, divided into two units. One unit offers approximately 1200 square feet, while the other provides approximately 600 square feet, providing flexibility for various retail concepts. The property is situated in Miami-Dade County, zip code 33130, offering excellent visibility and accessibility. On-site parking accommodates four vehicles, a valuable asset in a high-traffic urban area. The asking price for this well-positioned retail building is $1,850,000. This presents a strong potential for rental income and capital appreciation, making it an attractive investment for discerning buyers seeking a foothold in Miami's dynamic retail market. The property's location in a bustling area ensures high foot traffic and visibility, contributing to its strong potential for success. The existing layout offers the possibility for immediate occupancy or redevelopment, depending on the investor's vision. This is a rare opportunity to acquire a well-established retail property in a prime Miami location.

• CAP approach

  CAP return

  Valuation

  6%

  $5,695,900

  6.5%

  $5,257,760

  7%

  $4,882,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,299,760

  Geo Method

  $2,299,760

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,895,770

  Retail / Commercial

  $5,187,330

  Hospitality / Lodging

  $3,973,210

  Office

  $5,319,130

  Institutional / Educational

  $5,497,730

  Residential Income

  $6,432,340

  Multifamily

  $7,221,670

  Automotive / Energy

  $4,712,340

  Parking / Income-Based Land

  $1,538,320

  Restaurant / Food Service

  $2,924,360

  Healthcare / Senior Housing

  $5,300,550

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7746

Longitude

-80.208

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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