5840 71 St ,Retail for Sale

5840 71 St for Sale

Price $9,000,000.00

• Lot size 10700
• Year Build 2017
• Waterfront
• Zip 33143
• Style
• Parking Description
• Pool Yes
• Status Active

Description

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.

Please do not disturb the Tenants. Please schedule via showing request. Showings are only from 8:30-10:00 AM.

COOPERS SUB PB 4-152 E5FT OF S40FT & E3FT OF N31.55FT OF S71.55FT OF LOT 21 & LOT 22 LESS W2FT OF N68.45FT & ALL LOTS 23 & 24 LOT SIZE IRREG

Central Business District, City Location

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.

City:Miami,Zoning:6300,List A O R:A-Miami Association of REALTORS,Latitude:25.704948,Cooling Y N:1,List Price:9000000,Listing Id:A11382351,Longitude:-80.288191,Mls Status:Active,Year Built:2017,Inclusions:Building & Land,Postal Code:33143,Street Name:71 St,Coordinates:1:25.704948,Lot Features:1:City Location,Photos Count:47,Days On Market:432,Listing Terms:1:Conventional/Refinance,Lot Size Units:Square Feet,M I A M I R E_ Area:40,On Market Date:2023-05-04,Parcel Number:09-40-25-030-0130,Property Type:Commercial Sale,Street Number:5840,Public Remarks: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.,Structure Type:1:Free Standing,2:Restaurant,3:Retail,County Or Parish:Miami-Dade County,List Office Name:RE/MAX 360 Real Estate,Private Remarks:Please do not disturb the Tenants. Please schedule via showing request. Showings are only from 8:30-10:00 AM.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:Price Decrease,Property Sub Type:Retail,State Or Province:FL,Street Dir Prefix:SW,Tax Annual Amount:72496,Unparsed Address:5840 SW 71 St, Miami FL 33143,Listing Agreement:Exclusive Right To Sell,Year Built Details:Resale,Building Area Total:6384,Building Area Units:Square Feet,Lot Size Square Feet:10700,Original List Price:11000000,Previous List Price:9900000,Public Survey Range:40,I D X Participation Y N:1,Syndication Remarks: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.,Listing Contract Date:2023-05-04,Originating System I D:miamire,Public Survey Section:25,Showing Instructions:See Broker Remarks,Showing Assist,Street Number Numeric:5840,Tax Legal Description:COOPERS SUB PB 4-152 E5FT OF S40FT & E3FT OF N31.55FT OF S71.55FT OF LOT 21 & LOT 22 LESS W2FT OF N68.45FT & ALL LOTS 23 & 24 LOT SIZE IRREG,Public Survey Township:40,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Prime South Miami commercial site, near UM, 1.6 FAR, vibrant area, Opportunity Zone, 2 restaurants, outdoor dining,Contract Status Change Date:2023-05-04,Internet Address Display Y N:1,M I A M I R E_ Ok To Advertise List:No,Transaction Broker Compensation:2.75%,Internet Entire Listing Display Y N:1,M I A M I R E_ Compensation Disclaimer:BBC: 2.75%, The offer of compensation is made only to participants of the MLS where the listing is filed.,Transaction Broker Compensation Type:%,