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$ 4,450,000
Est. payment /mo
Price Dropped by $450K
4685 NW 7th St Miami, FL 33126
10,800 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 10,800 sqft
Price per Sqft $412
MLS Listing ID A11988163
HOA Y/N No
Year Built 1972
Lot Size 0.560 Acres
Property Sub-Type Retail
Property Description
Fully leased neighborhood retail strip center offering stable in-place income (100% occupied) with strong tenancy mix and immediate cash flow. Positioned on a prominent corner lot along NW 7th Street, the property benefits from high visibility and consistent consumer traffic within one of Miami's primary service corridors.
The asset is strategically located along a major east-west arterial roadway with approximately 44,744 vehicles per day (VPD), providing excellent exposure and accessibility. The corridor serves as a key commercial and transit link, located approximately 0.5 miles from SR 836 (Dolphin Expwy) and 2 miles from SR 826 (Palmetto Expwy).
Zoned T6-8-O, the property allows for high-density mixed-use development and qualifies under the Live Local Act for affordable and workforce housing. While currently positioned as an income-producing investment, the asset offers long-term redevelopment potential.
Pro forma stabilization supports an estimated cap rate of approximately 5.6%, with significant upside through rent growth toward market levels.
An Offering Memorandum is available that outlines a conceptual affordable/senior housing development scenario, including the financing structure and capital stack. This is not an approved project but illustrates future potential.
The submarket is currently favoring stabilized retail assets, with limited new retail development, positioning this opportunity as a covered land play with strong current income and future upside.
The asset is strategically located along a major east-west arterial roadway with approximately 44,744 vehicles per day (VPD), providing excellent exposure and accessibility. The corridor serves as a key commercial and transit link, located approximately 0.5 miles from SR 836 (Dolphin Expwy) and 2 miles from SR 826 (Palmetto Expwy).
Zoned T6-8-O, the property allows for high-density mixed-use development and qualifies under the Live Local Act for affordable and workforce housing. While currently positioned as an income-producing investment, the asset offers long-term redevelopment potential.
Pro forma stabilization supports an estimated cap rate of approximately 5.6%, with significant upside through rent growth toward market levels.
An Offering Memorandum is available that outlines a conceptual affordable/senior housing development scenario, including the financing structure and capital stack. This is not an approved project but illustrates future potential.
The submarket is currently favoring stabilized retail assets, with limited new retail development, positioning this opportunity as a covered land play with strong current income and future upside.
Location
State FL
County Miami-dade
Area 30
Exterior
Total Parking Spaces 24
Private Pool Yes
Building
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Block
Others
Tax ID 01-31-32-006-0300
Ownership Corporation
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11988163
Listed by Fortune Christie's International Real Estate
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