6770 Indian Creek DrMiami Beach, FL 33141

Property Details for 6770 Indian Creek Dr

Year built

1968

Property size (Sq ft)

298 SF

Zone code

4000:MULTI-FAM,63-100 U/A

Property type

Retail properties

Property subtype

Retail space

APN

02-3211-068-2290

APU

232110682290

Description

This exceptional investment opportunity presents a 275-unit multifamily building at 6770 Indian Creek Drive, Miami Beach, Florida 33141. The property, built in 1968, boasts a total square footage of 298 square feet and currently enjoys 100% occupancy. Priced at $125,000, this asset offers a compelling 5.00% cap rate. Currently configured as a small office space with high-speed internet and air conditioning, suitable for 1-3 individuals, it includes valet parking. Alternatively, the space can be easily converted back into its original use: 28 individually secured storage units (thumb access system included) within the larger condominium building. The seller is open to exploring rental options at $850 per month or a rent-to-own arrangement. This presents a unique turnkey business opportunity, with existing thumb scanner software already in place. Located just two blocks from the ocean, this property offers unparalleled access to the vibrant Miami Beach lifestyle. The property is situated in Miami-Dade County.

• CAP approach

  CAP return

  Valuation

  6%

  $284,206

  6.5%

  $262,344

  7%

  $243,605

• Comparable approach

  Method

  Valuation

  Relative Method

  $287,513

  Geo Method

  $287,513

• Alternative Use

  Use

  Valuation

  Residential

  $221,297

  Hospitality

  $202,707

  Educational

  $168,650

  Medical

  $174,450

  Retail

  $262,344

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.8516

Longitude

-80.1227

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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