727 Flagler StMiami, FL 33130

Property Details for 727 Flagler St

Year built

1931

Construction

CONCRETE

Lot size

0.16 AC

Property size (Sq ft)

1,845 SF

Zone code

6110:COMM/RES-DESIGN DIST

Property type

Outlet malls

APN

01-0200-080-1170

APU

102000801170

Description

This exceptional commercial land opportunity presents a 7,000 sq ft lot with a 1,845 sq ft, single-story building constructed in 1931. Located at 727 West Flagler Street in Miami, Florida (zip code 33130), this property boasts a prime location in Miami's vibrant urban core. Currently vacant, the property offers significant value-add potential. The existing building, zoned T6-12-O-URBAN CORE ZONE, allows for construction up to 12 stories (with adjacent property assembly). The asking price is $1,899,000, representing a price per square foot of $1,029.27. The property features a current NOI of $45,329 and a pro-forma NOI of $64,529, resulting in a current cap rate of 2.39% and a pro-forma cap rate of 3.40%. The property's historic charm and strategic positioning offer excellent visibility and accessibility. Its versatility makes it suitable for various commercial ventures, including retail or office use. The large lot size provides ample space for expansion or redevelopment. This is an ideal investment opportunity for those seeking a high-return property in a rapidly growing area. The property's location offers proximity to numerous urban amenities and attractions. The building's distinctive character and architectural features add to its appeal. This is a rare chance to acquire a piece of Miami's history with significant future development potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,341,625

  6.5%

  $2,161,500

  7%

  $2,007,107

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,780,069

  Geo Method

  $1,780,069

• Alternative Use

  Use

  Valuation

  Residential

  $1,823,306

  Hospitality

  $1,670,139

  Educational

  $1,389,536

  Medical

  $1,437,324

  Retail

  $2,161,500

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7741

Longitude

-80.2067

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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