1650 8Th StMiami, FL 33135

Property Details for 1650 8Th St

Year built

1948

Construction

CONCRETE

Lot size

0.14 AC

Property size (Sq ft)

2,844 SF

Zone code

6100:COMMERCIAL,NEIGHBRHD

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

01-4110-063-0040

APU

141100630040

Description

This thriving restaurant and bar, located at 1650 SW 8th St in Miami, Florida's vibrant Little Havana neighborhood (zip code 33135), presents a unique investment opportunity. Built in 1948, this well-established business boasts a strong reputation and loyal customer base, evidenced by excellent online reviews on platforms such as Google and TripAdvisor. The diverse menu featuring classic Cuban cuisine in a contemporary Miami setting has driven consistent annual revenue, with significant potential for future growth. The property includes a tavern license, allowing for extended operating hours. An open space at the rear of the building provides ample room for events or storage. The asking price for this turnkey operation is $400,000. This is a rare chance to acquire a profitable, well-regarded restaurant in a prime location. The business has been operating successfully for one year. The property is classified as retail, with subtypes of restaurant and bar.

• CAP approach

  CAP return

  Valuation

  6%

  $3,044,773

  6.5%

  $2,810,560

  7%

  $2,609,806

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,687,724

  Geo Method

  $1,687,724

• Alternative Use

  Use

  Valuation

  Residential

  $2,810,560

  Hospitality

  $2,574,458

  Educational

  $2,141,918

  Medical

  $2,215,582

  Retail

  $3,331,873

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7654

Longitude

-80.2218

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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