Active
5840 SW 71 St
Miami FL, 33143
$9,000,000
$1,409.77 per sqft
Active
6,384 sqft
Commercial
Built in 2017
Discover a unique investment opportunity in South Miami, near US-1 and the University of Miami. This standalone, multi-tenant building is in the City's Specialty Retail--Hometown District Overlay. Covering 6,384 SF on a 10,700 SF lot, it boasts a Floor Area Ratio (FAR) of 1.6 and permits up to 4 stories.
The property features two fully equipped, second-generation restaurant spaces with complete kitchens, hood-vent systems, and walk-in coolers. An inviting outdoor courtyard enhances open-air dining. Located in an Opportunity Zone, it allows for extended operations until 4 AM without on-site parking requirements.
For investors, leasing at market rates of $85.00 NNN would generate a Net Operating Income (NOI) of $542,640 and a 6% Cap Rate.
A11382351
MLSⓇ ID
May 4, 2023
Listed
June 27, 2024
Updated
Map
5840 SW 71 St
Miami FL, 33143
Interior Features
Fireplace
No
Cooling
Yes
Cooling Description
Central Building A/C
Heating
No
Exterior/Building Features
Lot Size
0.25 Acres
Lot Features
Central Business District, City Location
Other Property Details
Taxes
$72,496
Tax Frequency
Annually
Days on Market
413
Garage
No
View
No
County
Miami-Dade County
Water Source
Public
Pool
No
Zoning
6300
Buyer Agency Compensation
2.75%
Listing History
Date | Event | Price |
|---|---|---|
5/23/2024 | Price Change | $9,000,000 -10% |
9/12/2023 | Price Change | $9,900,000 -10% |
Listed by: RE/MAX 360 Real Estate
Listing Contact: 305-778-8944
Based on information from the Miami Association of REALTORS®. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated 8:16 PM UTC, 6/27/2024.