375 NE 54th St Miami, FL 33137 |
Price: $6,500,000 |
Type of Property: Commercial | Area: 31 |
Style of Property: Unimproved Business/Commercial |
ID#: 1011464762 | Zoning_Information: 6100 |
Tax Amount: 19109 |
Status: Active & Available | Tax Year: 2022 |
Approximate Lot Size: 19440
|
County: Miami-Dade County |
Folio Number: 01-32-18-061-0010 |
Listed Date year/month/day: 2023-10-05 |
Legal:NAPOLEON PLACE PB 134-62 LOT 1 LOT SIZE 120 X 81 OR 19472-3587 1200 4 |
The property consists of two buildings - a two story shopping center and a one story food market. The shopping center has 9 units between 650-850 square feet, allowing for optimal per foot rental numbers. The food market is renovated and equipped with a hood, grease trap and walk in cooler.
The property has below market leases. A number of the leases are expired with a few more expiration dates on the horizon and demolition/renovation clauses in every lease. This offers significant upside for a buyer.
The property, zoned T6-8-O, is an ideal buy and hold for someone looking to raise rents and cash in on the appreciation of the area before developing. A buyer can also elect to tear down the buildings and develop in the more immediate future. |